- Newspapers and Thinking the Unthinkable – A good epitaph for the newspaper, by Clay Shirky. Now if only Elsevier would go bankrupt too. (tagged: technology economy history internet copyright publishing newspapers )
- Will Banks Start to Walk Their Talk? Don't Hold Your Breath – I thought that whole spiel about how Citi and friends were suddenly going to be profitable sounded suspicious. All they had to do was redefine the word "profit" to mean whatever they wanted it to mean! Brilliant! The innovations that flow from our Commanding Heights never fail to amaze. (tagged: baiilout finance economics policy politics banks citi )
- Our Pigs, Our Food, Our Health – Massive overuse of antibiotics in livestock feed breeds bacteria resistant to antibiotics? Whodathunkit! WTF is this article doing on the Op-Ed page? Shouldn't someone be out there in Iowa winning a Pulitzer over this? Or is it too obvious to even warrant investigation. We're going to look back in 100, or 50, or 25 years and deeply regret squandering the limited miracle of antibiotics on cheap bacon. This is what we get for refusing to teach evolution. (tagged: health evolution antibiotics agriculture food mrsa livestock farms )
- Obama Tells Business Roundtable: “If You’re Giving Away Carbon Permits For Free … It Doesn’t Work” And “The Science Is Overwhelming” – Joe Romm usually bugs the crap out of me, but this is actually a decent piece, trying to get across the point that Obama really, actually appears to understand what would be required to get carbon pricing implemented and functional, both from a policy and a political point of view. The sooner industry starts planning around this, the better it'll be for everyone. (tagged: climate carbon economics auction policy obama energy )
- Hussman Funds – Weekly Market Comment: Buckle Up – I don't see any reason to trust Hussman more than the normal investing talking heads who do about as well as chance would predict, but he can do division:
The course of defending the bondholders of insolvent institutions is not sustainable. Do the math. The collateral behind private market debt is being marked down by easily 20-30%. That debt represents about 3.5 times GDP. That implies collateral losses on the order of 70-100% of GDP, which itself is $14 trillion. Unless Congress is actually willing to commit that amount of public funds to defend the bondholders of mismanaged financials so they can avoid any loss, this crisis simply cannot be addressed through bailouts. Bondholders have to take losses. Debt has to be restructured. There is no other option — but the markets are going to suffer interminably until our leaders figure that out. (tagged: finance crisis banks investing bailout )
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