Good Sunday morning, some interesting reads for the middle of your long weekend:

Charlie Munger: Lessons From an Investing Giant (Real Time Economics)
• Investing: What is the value of unique? (FT Alphaville)
• No, This Stock Market Is Not the ‘Next Great Bubble’ (Atlantic) see also Still No Appetite for Risk (U.S. News)
Why Wall Street Has Given up on Opposing Spitzer: It Knows a Bad Trade When it Sees One (Reformed Broker)
• Higher Interest Rates Haven’t Spooked High-End Buyers (WSJ) see also Location, location, location (Economist)
• By 2015, manufacturing in the US will cost only ~5% more than China (Quartz)
• No, the safety net doesn’t cause unemployment (MarketWatch) see also Recovery in Germany Is Faster Than Elsewhere (NYT)
• How a Regulator Made ‘Too Big To Fail’ Banks Thwart Predatory Lenders (National Memo)
Science & Technology: Welcome to the Age of Denial (NYT)
The Sound of Going to Pieces: The Clash’s surviving members recount the making of a punk anthem (WSJ)

Whats for brunch ?


Syria Outrage
Source The Oatmeal

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.

14 Responses to “10 Sunday Reads”

  1. ilsm says:

    Might makes right.

    Weapons of mass destruction are only tolerable from a high ethical plateau. Obama will order US weapons of mass destruction shot at Syria to slap Assad’s lesser ethical plateau wrist for using weapons of mass destruction.

    As long as they expend the obsolete Tomahawks so the force for enforcing good ethical plateaus can buy the new more expensive ethical model.

    Exercising ethical rights makes profits.

    It used to take hundreds of years for empires to get this entertaining.

  2. 873450 says:

    We have no dog in this fight, so go ahead and kill each other, but follow the rules and fight fair, OR ELSE !

  3. farmera1 says:

    Big Data

    Among other interesting tid bits:

    “If all the digital information in the world were printed on books, it would “cover the entire surface of the United States some 52 layers thick. If it were placed on CD-ROMs and stacked up, they would stretch to the moon in five separate piles.”

  4. Bob is still unemployed   says:

    I’m enjoying a short, fun book with brunch.

    The book can be read for free online, Ali Almossawi’s An Illustrated Book of Bad Arguments is “a wonderfully digestible summary of the pitfalls and techniques of argumentation,” says Aaron Koblin, a creative director at Google. “I can’t think of a better way to be taught or reintroduced to these fundamental notions of logical discourse.” ,

  5. VennData says:

    Syria hails ‘historic American retreat’ as Obama hesitates

    Not since Reagan’s cowardly retreat from Lebanon has the US given the recruiters of religious terror such a great “American will back down.”

    You GOPers wouldn’t support Obama if he demanded tax cuts to zero for The Koch Brothers.

    Enjoy your future of chemicals and biologicals, and don’t forget those nukes.

    • S Brennan says:

      VennD, whose polemic attacks on all things not handed down by the Democratic politburo offers up a press clipping…and hands the blame for the mess Obama has created…to the..wait for it..Republicans. If Ven’s charge were true, why would anybody vote Democratic? But why argue with an apparatchik? Instead, let’s parse the disinformation offered as the source of Ven’s argumentation.



      “U.S. Secretary of State John Kerry said tests had shown sarin nerve gas was fired on rebel-held areas near Damascus”

      Why is Kerry being so feeble, obscure and imprecise? Why not an authoritative statement like:

      “U.S. Secretary of State John Kerry said tests show that the Syrian Government fired Sarin gas shell[s] that led to the death of 1,500 hundred people we saw the photos of last week, identified as non-combatants in rebel held territory.”

      The two statements are not at all the same.

      One statement identifies the shooter, the target, the weapon AND WHEN IT HAPPENED…you know the standard “Who, What & Where” upon which reasoned argument is based.

      The other statement says somebody used sarin in a rebel held area to an unstated effect at an unstated time.

      The imprecision is Sarin gas was not used in the photos that have been provided by rebels. FYI, my chemical weapons training is from the US Army, given at Fort McClellan, Anniston Alabama…look it up VennD.



      The headline SCREAMS “Scornful Syria hails ‘historic American retreat’ as Obama hesitates”

      Now, what the Syrian government actually said was:

      Syria’s Deputy Foreign Minister Faisal Mekdad said “It is clear there was a sense of hesitation and disappointment in what was said by President Barack Obama yesterday. And it is also clear there was a sense of confusion as well,” he told reporters in Damascus.

      Again, these two statements have nothing in common, Syria’s Deputy Foreign Minister was making a statement that a “reasonable person” would call truthful, VennD’s source publication is offering up what a “reasonable person” would call a steaming plate of crap.


      What to do? Believe your eyes…or lies. The propagandist need to improve on the fact that, so far, 91% of Americans have drawn the correct conclusion…and think Obama’s attempts to draw us into a war where US armed and paid for terrorists, who have failed in their mercenary duties, are dead wrong. Apparatchiks need to buckle down and drown US Citizens in a sea of lies before they will support Obama’s attempt to finish off the war he started.

  6. Jojo says:

    Winners of the Red Bull Illume Photo Contest 2013
    Aug 29, 2013 |

    The winners have just been announced in the 3rd edition of the Red Bull Illume Image Quest photo competition. The overall winner, top 10 category winners and top 50 finalists were unveiled at a ceremony in Hong Kong earlier today. The contest invited photographers to submit images of the world of action and adventure sports in one of 10 categories, including Energy, Illumination, Sequence, and Experimental (where digital manipulation is allowed). This year the competition received more than 28,000 entries by 6,417 photographers from 124 countries. Below are some of the winning images, accompanied by the stories behind the shots, in the words of the photographers themselves. (Also, be sure to see the earlier entry, featuring some of the semi-finalists.) [36 photos]

  7. S Brennan says:

    “We have no dog in this fight, so go ahead and kill each other…”

    You may not, but our “secret” Government, The “National Security Apparatus” has been funding and arming through 3rd parties…Al Qaeda “mujahedeen” for a couple of years. In fact, there was a little incident in Libya where weapons we had supplied for that orchestrated uprising were supposed to be turned in and shipped off to Libya.

    Unfortunately, the terrorist we supply with cash and weapons to overthrow governments often have their own ideas. For example, in Libya, Stevens was attempting to buy back “Stinger type” Missiles that were distributed to US Al Qaeda fighters in Libya…as you will recall, some were bought back at ever increasing prices…but then OUR Terrorist in Libya got the bright idea to “just” steal them back. So now there some 400 “Stinger type” Missiles out there, some no doubt, will appear at an airport near you.

    Libya HAD the highest standard of living in Africa. Qaddafi, unlike US supported despots, spent considerable sums on irrigation, educational infrastructure and electrification projects. He also promoted racial harmony, women’s rights and quality education. Contrary to US press reports, Negro peoples have been in Libya since Roman times and in contrast to other Arab countries, Qaddafi allowed black folks in then gave them access to education and civil rights.

    The people we funded and supplied with heavy weapons to “have a revolution” were folks who thought the oil monies should be given directly to them rather than spent on projects that create long term wealth. They also believed that negroes should be raped, lynched, macheted, shot…in general abused before being murdered….which they did. Nice guys huh, think of what would happened if the Soviets had been as depraved as our “National Security Apparatus”, they would have funded and armed the KKK, Neo-Nazis skinheads, Hells Angels, the Crypts/Bloods and other criminal outfits…that’d been sweet huh? Qaddafi was no worse than Tito, both of whom lived in rough neighborhoods and had to deal with vicious scum…and you don’t do that with buttercups.

    Yeah, we’ve had a dog in all these “revolutions”.

    One more thing, Lockerbie: Iran ordered the bombing of Pan Am 103 to revenge for the downing of Iran Flight 665…and the US State Department said that’s who did it until…on the eve of Gulf War I, when Bush [the 1st], needing to use the Iranians had to absolve them of the crime, he did so with the phrase “they got a bum rap”. No evidence, nothing. At the time of the bombing, travel advisories were issued due to the threats emanating from Iran. Dr. Jim Swire’s daughter was killed in the bombing, and is the spokesman for UK Families on Flight 103, stated “those convicted had nothing to do with the bombing “. Dr. Swire has stated that “the scandal around Megrahi is not that a sick man was released, but that he was ever convicted in the first place. All I have ever wanted is to see the people who murdered my daughter are brought to justice.” The man who organized the trial and Scotland’s top legal expert “called al-Megrahi’s murder conviction “the most disgraceful miscarriage of justice in Scotland* for 100 years”.”

    * the trial was actually held on a US Air Force Base in the Netherlands

    • 873450 says:

      Lots of propaganda and conspiracies there.

      U.S. has clandestinely funded and armed “terrorists” overthrowing governments we don’t like for at least 65 years – Al Qaeda at least 35 years. Likewise, terrorists we supply with cash and weapons have turned against us for at least 65 years. We specifically engineered and distributed (via Pakistan) “stinger type” RPG’s for “mujahedeen” freedom fighters targeting USSR helicopter gunships slaughtering them in Afghanistan. Pakistan learned to make them cheaper and is now a leading manufacturer of RPG’s targeting U.S. helicopters.

      Libya – Qaddafi – Africa.
      “In contrast to US press reports,” Africans have been in Africa since Roman times? It’s a safe bet they were there long before that. Qaddafi enlisted and enriched African allies to work around international import/export embargoes imposed on oil rich Libya in response to Pan Am 103. Qaddafi acknowledged Libyan culpability, handed masterminds over and paid out hundreds of millions of dollars in reparations.

      From your source: “The clear inference which we draw from this evidence is that the conception, planning and execution of the plot which led to the planting of the explosive device was of Libyan origin. While no doubt organizations such as the PFLP-GC and the PPSF were also engaged in terrorist activities during the same period, we are satisfied that there was no evidence from which we could infer that they were involved in this particular act of terrorism, and the evidence relating to their activities does not create a reasonable doubt in our minds about the Libyan origin of this crime.” – unanimous judicial decision after trial held on U.S. base for security purposes.

      Here in the USA our domestic criminals and terrorists never needed Soviets to supply weapons and funds. They have always been able to procure whatever they need cheap and mostly legal here at home. Al Qaeda urges American home grown terrorists to buy guns in America to kill Americans in America (Boston Marathon).

      There will always be magic bullet, grassy knoll, 7 WTC, … types of conspiracies concocted and maintained by trolls. Use a little imagination and you can link Obama to all of them.

  8. Jojo says:

    Okla. Surgical Center Reveals Prices to Patients
    Aug. 27,2013
    By GILLIAN MOHNEY via Good Morning America

    When Ira Horner, 62, found out how much his knee surgery for a torn meniscus was expected to cost, he worried that he would spend the rest of his life in debt.

    A floor associate at Hutchinson Oil, in Woodward, Okla., Horner had health insurance through his employer, but it was unclear as to what he would ultimately be expected to pay.

    After talking to friends and nurses at the medical center where he was being treated, Horner estimated the surgery would cost at least $16,000, and he’d end up paying about 20 percent of that plus his $1,000 deductible.

    But his doctor never gave him an actual number, he said.

    Horner, who in January of this year was getting through his day without fully extending his leg, worried he would be left “thousands of dollars in debt.” The surgery wouldn’t bankrupt him, he said, but it would require years to pay off.

  9. Union Agitator says:

    This is a hard hitting, thought provoking article. Sadly, on the same page is a fashion commentary on the teen choice awards, and a meditation on the most fashionable watch. And they say I have ADD.

  10. rj chicago says:

    Re: The Clash (by the way a great band to be added to Barry’s list)
    The great irony of what I see is these guys on a barge in a rain storm in the middle of the river at night in deplorable conditions while years before the Beatles were on a roof top on a sunny day above Apple Studios singing Let it Be. What a contrast!!!

  11. Robert M says:

    I have been reading this calculator. The calculator has the rates to be used for Oct 1st.

    This is what I read. This is what happens when you understand you need a comprehensive policy towards education and its relationship to the workforce, “What accounts for that difference? Some of the credit goes to Germany’s education and employment system for young workers, and to German policies that encourage employers facing downturns to reduce working hours rather than fire workers. In Germany, students are separated into different career tracks, with many put into a system that leads to apprenticeships rather than to college degrees.”

  12. RW says:

    In preparation for Labor Day with the family that more than likely includes someone more than willing to share their opinion on a subject they actually know nothing about including macroeconomics.

    Jared Bernstein blows up the usual suspects there but in a punchy way that can come in handy: Facts alone are rarely sufficient when contradicting those who think they know what they are talking about but don’t. Suspects drop-kicked through the goal posts of the real world today include: “You can’t raise the minimum wage! That’s a job killer.” ; the ever popular, “Why there’s no point in arguing for more manufacturing jobs. That’s over. Wake up a smell the global economy.” and “Yeah, there’s too much unemployment. But there’s nothin’ to be done about it.” and, god love ‘em, “There you go again, ready to spend everybody’s money…don’t you know this deficit and debt are killin’ us…you tryin’ to bankrupt our kids?!”

    Pesky Brother-in-Law, 2013 Labor Day Edition

    Ah, Labor Day.

    An extra day of rest from the weekly toil, and often an end-of-summer barbecue with friends, family, and oh yeah…that annoying brother-in-law, uncle, or neighbor who’s got it all figured out ‘cause he learned it on Fox.

    In yet another helpful service we provide here at OTE, here are some snappy comebacks designed to nicely and efficiently set the record straight, and do so well before you throw the burgers on the grill.

    Note: A safe and easy Labor Day wish for y’alls and, remember: (a) don’t cook ‘em to death, leave a little juice in ‘em, and (b) barbeque ain’t the same as grilling and most of y’alls are doing the latter, not the former (nothing wrong with that, lord knows, but it is a difference that makes a difference here and there).