Good Saturday morn. Pour yourself a strong cup of Joe, settle into your favorite chair, and enjoy our long-form weekend reads:

• Everything Is Broken: Don’t be fooled — your tech barely functions (Medium)
• How Gamblers Get Hot (New Yorker)
Fascinating story about relationships: I went undercover on Ashley Madison to find out why women cheat (DailyDot)
• Beauty ≠ truth: Scientists prize elegant theories, but a taste for simplicity is a treacherous guide. (Aeon)
• Saving the Net from the surveillance state: Glenn Greenwald speaks up (C/Net)
•No Time: How did we get so busy? (New Yorker)
• The Great Smartphone War: Apple vs. Samsung (Vanity Fair)
• The Man Who Made Libertarians Wrong about the Constitution (New Republic) see also Mouthbreathing Machiavellis Dream of a Silicon Reich (The Baffler)
• The Case of the Vanishing Honey Bee: Pesticides and the Perfect Crime (Earthjustice)
• How YouTube and Internet Journalism Destroyed Tom Cruise, Our Last Real Movie Star (LA Weekly)

 

Whats up for the long weekend?

 

Stock Market Rallies (Dow Since 1900)

Source: Chart of the Day

 

 

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 Weekend Reads”

  1. CD4P says:

    Ahhhhh!!!!!!!!

    An ‘Ashley Madison’ piece! The internet gift that keeps on giving!!! I was wondering when we’d get another glimpse into that corner of the internet… Just in time for the long weekend!

  2. RW says:

    This can’t be repeated often enough.

    Congress is blowing our best chance to rebuild America

    And challenge to Piketty gains a little substance but not enough to challenge the conclusion even if multiple lines of other evidence were unavailable. Expect the usual trolling regardless of course.

  3. VennData says:

    Snowden and Greenwald deserve jail.

    http://www.nytimes.com/2014/06/08/books/review/no-place-to-hide-by-glenn-greenwald.html?_r=2

    We wanna big teen-dweeb idol and reveal state secrets? OK, but take the consequences for your theft, because otherwise you are nothing morewnthan a cheap hood.

    Snowden is a traitor, and a cheap hood.

    • fearlesspectator says:

      I would accept your argument if it was accompanied by a plea to also prosecute and jail all the government officials and contractors, including members of congress, who perpetrated the massive invasion of privacy exposed by Snowden and Greenwald, as theirs were crimes far greater. Don’t shoot the messenger and try to avoid the message.

  4. VennData says:

    Seems to me, re the excellent “Everything is broken,” that the problem really is that computer crooks (crackers, not hackers) do not feel they will get paid enough. They are the ones that write the systems to exploit all the bugs, why don’t we as a society pay them enough to be white hatters?

    Why are a bunch of SALT-conference attending dandies prancing around Vegas in their high-thread count finery who rip people off with their lies about risk-adjuated performance getting carried interest tax breaks, but the guys who are building the global IT infrastructure get VISAed to death?

    • VennData says:

      by VISA I mean H-1B.

      It seems logical that the people doing the work should get paid rather than the asset strippers whose “accomplishments” would occur days if not weeks later by the equity markets eventually that are designed for re-capitalizations, value investing, and assets ending up in the hands of those who can do something with them,

      In other words over the last couple years what did Ackman actually do for Target, other than take managment’s eye off the IT ball?

  5. VennData says:

    Shut down the government!

    “…Rather than comply with the Supreme Court the alabaster-white pillars of the community began the campaign known as “Massive Resistance” and closed schools rather than integrate them. Prince Edward County locked out the students of all of its public schools in 1959 and they remained closed for five years…”

    http://www.vahistorical.org/collections-and-resources/virginia-history-explorer/civil-rights-movement-virginia/massive

    Sound familiar?

    What is it with these right wing nuts that the GOP puts on their ballots?

  6. hue says:

    The Spy Who Loved Us (The New Yorker) The double life of Time’s Saigon correspondent during the Vietnam War

    Ants Swarm Like Brains Think (Nautilus)

    The Lost Empire that Ruled the Silk Road (io9) The Soviets revived the ancient term “Uighur” in the twentieth century to refer to ethnic groups in western China and central Asia who were from some of the same regions as the eighth century Sogdians and Uighurs. This is perhaps one of the clearest examples you’ll ever find of history being written by the winners.

  7. No doubt . . . eventually . . . and at great expense to the taxpayer for these government food troughs for the defense industry . . .

    “They’ve got good people who used to work for us who know how to build a rocket. They’ll eventually get there,” Gass said.

    SpaceX CEO alleges revolving door exists in national security launch business

    http://goo.gl/8rIjXz

  8. Conan says:

    Interesting White Paper from Charles Schwab about indexing, worth a read as this is the best solution for 80-90% of people.

    http://www.schwab.com/system/file/P-6821024

  9. Jojo says:

    Connecting with “Everything Is Broken”:
    ===========
    TechCrunch
    The Internet Is Burning
    May 24, 2014

    Online security is a horrifying nightmare. Heartbleed. Target. Apple. Linux. Microsoft. Yahoo. eBay. X.509. Whatever security cataclysm erupts next, probably in weeks or even days. We seem to be trapped in a vicious cycle of cascading security disasters that just keep getting worse.

    Why? Well — “Computers have gotten incredibly complex, while people have remained the same gray mud with pretensions of godhood … Because of all this, security is terrible … People, as well, are broken … Everyone fails to use software correctly,” writes the great Quinn Norton in a bleak piece in Medium. “We are building the most important technologies for the global economy on shockingly underfunded infrastructure. We are truly living through Code in the Age of Cholera,” concurs security legend Dan Kaminsky.

    Most of which is objectively true. And it’s probably also true, as Norton states and Kaminsky implies, that a certain amount of insecurity is the natural state of affairs in any system so complex.

    But I contend that things are much worse than they actually need to be, and, further, that the entire industry has developed learned helplessness towards software security. We have been conditioned to just accept that security is a complete debacle and always will be, so the risk of being hacked and/or a 0-day popping up in your critical code is just a random, uncontrollable cost of doing business, like the risk of setting up shop in the Bay Area knowing that the Big One could hit any day.

    http://techcrunch.com/2014/05/24/the-internet-is-burning/

  10. Jojo says:

    The proper way to deal with financial fraud? I vote yes.
    ===========
    IRAN BILLIONAIRE EXECUTED OVER $2.6B BANK FRAUD
    AP , Associated Press
    May. 24, 2014 6:49 AM ET

    TEHRAN, Iran (AP) — A billionaire businessman at the heart of a $2.6 billion state bank scam, the largest fraud case since the country’s 1979 Islamic Revolution, was executed Saturday, state television reported.

    Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the station reported. The report said the execution came after Iran’s Supreme Court upheld his death sentence.

    http://www.apnewsarchive.com/2014/Iranian-billionaire-businessman-at-center-of-2011-investigation-into-$2.6B-bank-fraud-executed/

  11. MikeR44 says:

    Barry,This is off topic, but I read your piece on Geithner, after watching the extra segments of his interview with Jon Stewart, and I think you would be great on The Daily show rebutting Geithner’s narrow minded focus of our economy and it’s crash. The best would be a conversation between both of you monitored by Stewart or anyone, but I seriously doubt, despite Geithner’s statement of open to argument, that he would consent.
    Mike

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