Dyson

Will Congress go over the fiscal cliff?  Yes, we've been going for decades, really since the social unrest of the 1970s. 

In a serious incarnation of what CNBC's feeble attempt to present "disruptive" market individuals, which ironically but not surprisingly are merely those who support the status quo, Wired Magazine is webcasting live it business conference titled "Disruptive by Design", which while also another form of mutual ego-stroking circle jerking, at least bring together individuals who truly are at the forefront of disruptive design. Among the speakers are Marc Andreesen (keynote speaker), Dick Costolo, James Dyson, Curtis Hougland, Shantanu Narayen, Daniel Pink, and many others (full speaker list). Those who are bored by today's lack of any other real events can follow what Wired calls "a dynamic audience of today’s thought leaders for groundbreaking discussions on disruptive business practices, ideas, and innovations." Watch it live here.

• Greek Parliament Backs Austerity as Rioters Burn Buildings (Bloomberg)
• China CIC Wary of EU Government Bond Investments (Reuters)
• Spain Unions Decry New Labor Rules (WSJ)
• China Tells Banks to Roll Over Loans (FT)
• We're Not Greece: Italian Prime Minister Monti (CNBC)
• Bernanke’s Labor Pessimism at Odds With U.S. Growth (Bloomberg)
• Obama Budget Seeks Funding for Trade Unit (Bloomberg)
• Obama's Election-Year Budget to Target Rich (Reuters)
• China May Need to Fine-Tune Policy This Quarter, Wen Says (Bloomberg)
• China’s Xi Seeks Second Front for U.S. Ties in Return to Iowa (Bloomberg)
• Why Greece and Portugal Ought to go Bankrupt (FT)

I'm not talking about Al Gore ... I'm talking about the guys who actually invented the Internet

All in favor, say "Aye"

We ran an interview with our friend Yves Smith of Naked Capitalism today. She has done an excellent job of describing how the intellectual ghetto that was once financial economics has helped to destroy the world of investing and involuntarily turn us all into day traders. The full text follows below. -- Chris