Good Sunday morning. Our eclectic weekend reads, warmed up for your brunch enjoyment:

• Bridgewater May Be the Hottest Hedge Fund for Harvard Grads, but It’s Also the Weirdest (The Daily Beast)
• Yes, the Financial System Is Rigged. Why Shouldn’t You Profit From That Knowledge? (Businessweek) see also It’s Not Just the Fed (Barron’s)
• Equities rally sparks gold funds sell-off (
• The Best Tweets for Your Money (WSJ)
• The five biggest lies about entitlement programs (Los Angeles Times)
• What Eric Holder Got Right and Wrong About Big Banks (The Fiscal Times) see also Lawmakers rip into regulators over money-laundering prosecution (The Washington Post)
• Five Military Cuts That Would Fix Sequestration (Businessweek)
• New robots in the workplace: Job creators or job terminators? (The Washington Post)
Still Abiding After 15 Years: The Laid-Back World of ‘Big Lebowski’ Worship (The Atlantic)
• When ‘Jazz’ Was a Dirty Word (WSJ)

What’s for brunch today?


Showdown Over Notes That Float

Source: WSJ

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

15 Responses to “10 Sunday Reads”

  1. farmera1 says:

    Now here is a real surprise. Remember there are many more pounds of antibiotics fed to cows, pigs and chickens than taken by humans in this country. Even worse these antibiotics are feed at low levels for long periods (like the entire life of the animal). The antibiotics helps the animals grow faster. This is a completely insane practice that has long been banned in Europe. Enjoy you steak.

  2. James Cameron says:

    > Five Military Cuts That Would Fix Sequestration (Businessweek)

    The F-35 is included among them. For more on this program including the fast track strategy that made it virtually impossible to kill but also saddled taxpayers with additional, immense costs, see:

    “It was a bait-and-switch operation; we were overpromised benefits and under-promised costs,” said Chuck Spinney, a former Pentagon analyst who gained widespread attention in the 1980s for issuing pointed warnings about the military’s pursuit of unaffordable weapons. “But by the time you realize the numbers don’t add up, you can’t get out of the program.”

    These are our scandalous weapons programs today . . . all done in the name of national defense.

  3. S Brennan says:

    Let’s see F-35 has development problems, hmmm, I guess that’s a surprise for folks unfamiliar with big projects that contain thousands of unknowns.

    Yep hard stuff is…well…hard…huh..who’d a thunk it?

    By contrast, Boeing’s 787, which navigates a much, much much smaller flight envelop is 4 years behind and still not ready for prime time…should Boeing save itself some bucks and cancel the 787 program?

    No you say? That would bankrupt the company you say? But surely, they have other planes designed in the 60′s, 70′s, 80′s that are pretty good, why not just use them?

    When you talk about the “savings” of canceling the F-35 as if that decision is taking place in vacuum, try really hard to hold these two other thoughts in your head at the same time:

    1] You lose all the money you invested…all of it…that’s why you won’t see Boeing playing with private money in the manner F-35 detractors advocate.

    2] If you stop F-35 production, other production lines will have to started for airframe and part replacement of existing lines…that’s big money. Tooling has a life designed into it, reinvesting in antiquated designs is stupid beyond measure, Boeing is not going to scrap the 787 and re-tool the 757.

    Let me add one thing the morons in DC never seem to grasp…it’s a production line we are talking about, cutting the part count, raises the per unit price because engineering, development & tooling is amortized over far fewer parts. If the run was 1000 and you cut it to 330 units, you get 1/3 the product and you will be lucky to pay for 75-85% of the cost of the original 1000. They guy you quote has never worked in development, production and engineering…he makes his money the same way a lawyer does, with paper and words. The reason the USA is getting it’s ass kicked in world trade is because so many “managers” haven’t a clue on how to calculate the true cost of delivering a product to market.

    One more thing, Boeing was bitter that their “Monica” lost the fly-off to teh vastly superior Lockheed/Martin product and it’s been using it’s considerable marketing arm to kill the F-35 program. no doubt Boeing has plenty of money for paper studies to show that there should be a do-over the same way they took the winning tanker contract away from Northrop-Airbus in Mobile, Al.

  4. tdotz says:

    Another good Sunday read:

    The hypocrisy in Silicon Valley’s big talk on innovation

    Read more:

  5. you know, it’s Curious..

    when you attempt to tell a “Green” that ~’Hey, you know, past the Birds, and the Bats, ‘Wind’, especially, ‘Centrally Generated/Widely Distributed (‘Wind Farms’)’ have serious Issues..”

    They go Blank..seems their Liturgy isn’t so Catholic.. (adj. #1.)

    even, the ‘one-eyed’ man, in the form of BBerg Media, has missed the chance to ‘spread the Word’..

  6. VennData says:

    Dollar Rallies Across the Board, at Three-and-a-Half Year High

  7. ilsm says:


    The F-35; like the Littoral Combat Ship, F-22, MV 22, next generation carriers, etc. does not pass the “is it worth the tax payers’ scarce resources” test. That went out of style in the Reagan years, lest B-1 and B-2 would never have seen the flightline.

    He F-35 is possibly deficient in air combat capabilities:

    It is 7 or 8 years late, it is running “concurrency”, which means fly, test and fix, while the hard tests are late. In the past week the pentagon let a contract for $1.2B to fix “defects” found in the first 4 “lots” of 63 planes. As I said the tests are late and a lot more scrap and rework is coming.

    The F-15 is being sustained right now, the F-22 just got $6.8B for “modernizating the 182 planes, and F-16 is still being sold to foreign sales customers.

    It is not “walking from the $90B odd spent so far it is walking from the 1480B left in the F-35 monopoly franchise which is keeping it going.

    Boeing is learning they cannot design commercial aircraft (B777, B787) using pentagon pork techniques

  8. catman says:

    I attended a roller derby bout in Wisconsin last evening. Lebowski for mayor!

  9. RW says:

    WTF? Intrade Closing Immediately

    With sincere regret we must inform you that due to circumstances recently discovered we must immediately cease trading activity on …

  10. Giovanni says:

    The Businessweek article linked above, although they do quote you Barry, would be better titled: “Let Them Eat Cake.” What they are really promoting is the Gresham’s dynamic that Bill Black has been warning about (pretty much since the end of the S&L crisis). The criminogenic environment that exists in today’s banking and investment universe has become so pervasive that even reputable media outlets like Bloomberg/Businessweek are promoting jumping on the bandwagon. Unfortunately it works for a while until it doesn’t… then Main St. America is going to wheel out the guillotines and you won’t want to be caught within a mile of a Wall St. bankster then.

  11. PeterR says:

    Not sure if you already linked this fascinating article about the use of humans in search etc. results by Google, Twitter, etc..


    “Question-answering technologies like Apple’s Siri and I.B.M.’s Watson rely particularly on the emerging machine-man collaboration. Algorithms alone are not enough.”

    ” “Humans are core to this system,” two Twitter engineers wrote in a blog post in January.”


    Reminds me of drone pilots in the US flying the drones all over the world.

    Who ARE these human beings doing the final button pushing, for drones as well as Google, Twitter and so forth?

    What does HAL think of this, or do they actually work for HAL: 2001 a Space Odyssey?

    Hmmmm ……

  12. mathman says:

    Mark: yeah, they have some problems, but should we keep relying on toxic nuclear (think Fukushima and Hanford for starters), dwindling oil, fracked gas and coal with their significant pollution? It looks like humanity has painted itself into a corner, doesn’t it? No matter what we do we’re screwed BIG TIME in the coming 20 yrs or so. Enjoy the time you have left.

    Here’s a quick video by John Williams of Shadow Stats that says the “recovery” is bullshit:

  13. VennData says:

    Korean War will mean a 10% war tax on incomes over 150K

  14. mathman,


    “…especially, ‘Centrally Generated/Widely Distributed’…”

    the Point isn’t about ‘Wind’/”Flock Choppers”, per se..

    it is, rather, about ‘Centralized Generation’, in general..

    past the Transmission Losses (massive), and the susceptibility (Weather, at the min.) of Power Lines, and their Effects..

    the Economic Cost of Copper, itself, is ‘overlooked’..(see links above)

    + read some of..


    you know, last I checked, it Was the 21st C. ..~