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Frontrunning: July 26
- The secrets of the Afghan war released (WSJ)
- BP set to announce Hayward departure (FT)
- Must read: The death of paper money (Telegraph)
- European Banking's Next Focus Is Funding (WSJ)
- U.K. Growth Forecast Cut on Budget Curbs, Ernst & Young to Say (BusinessWeek)
- Taleb: Government Deficits Could Be the Next 'Black Swan' (BusinessWeek)
- Deficits Don't Matter as Geithner Growth Gets Lowest Yield (Bloomberg)
- When will the US go the way of Rome (RCM)
- More CMBS Defaults Coming this Fall as Special Servicers Try to Keep Up (Houseing Wire)
- The muni-bond debt bomb, and how to dismantle it (City Journal)
- Goldman threatened with audit (FT)
- Most casual observers would probably guess the stock market's down a lot more than it is. How did that happen? (Barrons)
- Correlations that you can trust, or why RenTec will make billions until it loses a trillion (FT)
- Madoff investors brace for lawsuits (WSJ)
»
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"All roads lead to Rome"
Roman roads and aquaducts still exist, what will we leave behind, oil pipelines and abandoned Wal Mart stores ?
McDonald's!
http://www.youtube.com/watch?v=ExWfh6sGyso
no worries, just follow the profit with cramer ad
I wish someone at wikileaks would release the documents surrounding bear stearns, aig & fed/treasury bailout operations in general.
Expanding on that, Wikileaks needs to release documents that provide a roadmap of corruption that isn't isolated to illegal wars or failed financial institutions.
One giant atlas that gives a greater sense of how everything is interconnected.
WikiLeaks doesn't have to do shit. Get off your lazy ass and do it yourself if you're so interested in "exposing The Great Corruption". Dont be a lazy sod and demand that others do the heavy lifting. The easiest thing is to bitch all day long and not do shit about the things you bitch about.
Right, because I have the methods readily available to me access mountain of data out their and write it up into a coherent document.
I enjoy your e-smackdowns of people and should've seen it coming because I wrote down my wishful thinking here.
The most I can do it to get people I interact with in real-life is to actually read versus being spoon-fed info from TV.
Thanks for correcting me.
I would equally "smack you down" if I ever met you face to face and hear you talk bullshit like this. OTOH; neither WikiLeaks has the necessary methods nor staff which could classify, present and make viewable millions of files they have in their database. But they try and they work. I have no idea why people make such grandiose demands from others like the one you did in your previous post. "Chart me the universe; cure cancer; make me not fat" etc etc. Do something yourself for fuck sake.
Cheeky -- are you getting enough fiber in your diet?
read up on ray rife sometime.
can you say conspiracy?
http://www.xenophilia.com/zb0012b.htm
http://users.telenet.be/Akasha1/The_Story_of_Royal_Rife.pdf
Amazing - thanks a lot!
Oh, and we always end up finding the Rockefeller deep at the root of every such plot - each time they appear more like the true incarnation of evil on earth.
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http://www.youtube.com/watch?v=OMScvqFL_2Q
Oh, another internet tough-guy. I always wonder what do they compensate for? Mhmm ....
"Good work officer" for conducting a disciplinary procedure on one of the ZH soldiers of (vast)fortunes.
I hearby promote you to Commander-in-Chief Officer C'Bas
http://www.newyorker.com/reporting/2010/06/07/100607fa_fact_khatchadourian
Thanks.
Sorry; forgot to add; read about how they "collect" the info. Interesting, and must say; un-expected method.
Wow. Thank you for that.
No problem. The most hilarious part is how WikiLeaks, in the beginning, was stealing data from Chinese hackers who were stealing the data from other various sources. The story is fascinating to say the least. Plus Assange is one tough mofo.
So is Birgitta Jonsdottir. We could use three of her down here. About fifteen years ago I remember watching some college lecture on some cable channel about the internet and government and how it would make it next to impossible to control information. It also talked a lot about the formation of interest groups and political power centers disconnected with economics and geography.
"The other day while out to dinner with a number of tech investors and entrepreneurs the conversation turned to a disturbing subject:
"What is your back-up country?"
These people weren't kidding. Property was being purchased. Contingency plans were being made."
http://www.realclearmarkets.com/articles/2010/07/26/when_will_the_us_go_the_way_of_rome__98588.html
Your playing with fire if you don't have a second option(country) even better a secnd passport
A lot of people claim Costa Rica as their backup country. Maybe that is why the US military is moving in there!
Argentina ftw
People think that it's only those in the "know" or who are incredibly politically infiltrated that will be filling the life rafts. Unfortunately, they're wrong. This whole thing has been perpetuated not by a command from a handful of people sitting in a dark room, but through mutual incentive... no difference in this situation.
Obama's measures to implement additional taxes and control because we're "patriotic" are absurd. The rise of multinationals combined with outsourcing should leave no doubt as to where allegience lies.
I doubt they will find a home with inhabitants any more docile and controllable than we are. Best of luck to them.
Gov't debt isn't a black swan, it's a fkin black albatross.
If the gov ever decides to "repay" the bankster class with austerity, we are immediately a feudal society. Think about your family's share of this whale.
We have been a feudal society for some time now, how much did the serft give to their lords, wasn't it about 30% well we're way over that now, if your working and paying taxes chances are your paying 50% or more
In keeping with this concept, we not only have the taxation issue, but also how the wealth gap has widened. Our conflict now is not whether to have feudalism or not, it's whether we throw away our chains and flip the bird.
My guess is that we will have domestic repudiation by the government and forced austerity upon the masses to attempt to keep up with international payments as much as possible. Further, my guess is that this will not go over so well and we simply repudiate all of it. We're not going to print default, we're just going to tell them to stick it where the sun don't shine. Printing just raises the cost of our shit, for certain, but I'm not perfectly sure what happens when all of the world's countries either repudiate or implode from the repudiation... risk aversion is a strange bedfellow.
The other issue is that it will become easier and easier as time progresses to repudiate, as the state of the world economy and nations will be more and more in trouble. In effect, with no sole military hegemony and no resources to sustain another global conflict, I'm thinking we'll be a little more drawn in and introspective in the future. Effectively, it will become very easy to tell beaten down, defenseless creditors to stuff it... maybe they won't lend to us in the future... ok... so what, my guess is demand at that point is going to be fairly small...
I specifically came to the comments section to comment on the same topic. Kind of lame to reference gov't debt as a black swan. It's bad enough that Taleb made the same unremarkable observation 1000 times over the span of 350 pages, he continues to associate the term to all sorts of things that by his own definition are nothing close to a black swan. Perhaps he could just go away now.
How is Zsa Zsa Gabor doing?
Another day, another fall in the Baltic CAPE Index, wich tracks capesize vessels, the larger ones, used to carry iron ore and copper between continents:
http://www.dryships.com/pages/report.asp
(Capesize vessels accounts for 62% of dry bulk traffic)
Meanwhile, the market continues it's run up, oblivious of all the negativity on this site.
Sure is kind of quiet around here today.
Oil creeping up here. And stocks creeping up too.
On god awful prospects even six months out but lots of tongue-wagging about the good times and TV and flat screens and flat abs and flats for this much per square my foot....... the ceaseless glorification of a cubby-hole existance.
As commodities go ladies and gentlemen, I'd go long truth, because in the end, it will shine, irresistibly.
ORI
http://aadivaahan.wordpress.com
Tyler, the biggest leak since the Pentagon Papers deserves a little more attention than a single link to Murdoch's WSJ fish wrap.
In light of Marla's letter to Cryptome insinuating Assange is a fraud, a clarification of ZH's editorial position is in order.
The leak is important. I think that Crytpome's criticisms of Wikileaks are mere player-hating. They're upset that he's accomplished much more than they have in a shorter period of time.
I'm not sure that it's very important as to what ZH's editorial position is on it.
http://www.theyrule.net/
Posted by Charles Burris on July 26, 2010 09:24 AM
For thirty years I have been hammering away about the crucial importance of understanding “power elite analysis” or “libertarian class theory” in order to make sense of how American society operates.
Economic historian Robert Higgs of the Independent Institute (no stranger to LRC readers) has authored an excellent article commenting upon a recent essay in The American Spectator, by Dr. Angelo M. Codevilla, which defines in superb, easy to understand terms how to analyze American sociopolitical culture — the political elite versus the people.
I have never seen this stated in such a clear and eloquent manner. Both essays should be read by everyone, and shared with friends, family, colleagues, etc.
Dr. Codevilla’s article (America's Ruling Class -- And the Perils of Revolution) is perhaps the most important essay I have ever read. For the first time I have begun to understand how generations of leftist intellectuals and activists were passionately moved and inspired by the Communist Manifesto of 1848. Codevilla has written a true American manifesto for our time, a brilliant analytical framework and dramatic call to action that will motivate millions in the Freedom Movement, the Tea Parties, and in the general society at-large. His work draws on the pioneering scholarship of Bernard Bailyn and Murray Rothbard in seeing American politics as two adversarial classes at war with each other — an arrogant elite ruling class and “the country class” and the rest of us held at bay. It deserves the widest possible readership and distribution possible.
In 1975, I briefly studied with Dr. Codevilla at the Intercollegiate Studies Institute’s Western Summer School at Thomas Aquinas College in California. I knew then that here was a man who would be making a decisive impact on the political and intellectual landscape of America. Dr. Codevilla has experienced a magnificent career at the top levels of public policy circles and academia.
http://www.lewrockwell.com/blog/lewrw/archives/62403.html