As I wrote before, the market’s dramatic rise in the face of the daunting problems that we know about seemed absurd, especially when unknown unknowns are always with us. China is one, but this may be the ultimate wild card:
Israel will launch military action to prevent Iran developing a nuclear weapon as soon as Christmas, intelligence chiefs have warned.
A report by
I channel Dow Jones Market Talk, which channels Brad DeLong, who channels Rogoff, Reinhart, and Krugman.
MARKET TALK: It’s 1931
5:20 (Dow Jones) “I have been complaining for some time now that Reinhart and Rogoff think that the time is always 1931 and that we are always Austria,” Brad DeLong writes on his blog, “that the great fiscal crisis is about to… Continue reading
I am reading Kahneman’s new book now and find it fascinating even though I was aware of many of the concepts in it. Those who study human behavioral flaws know that mere awareness of them is not always sufficient to fix our flaws. After reading Thinking Fast and Slow, Kahneman makes me question everything and assume nothing (at least nothing that my system 2 is aware of). Buy it in… Continue reading
I suspect these stories are an omen for the Wilpons’ continued ownership of the Mets:
Mets will pay 3 percent interest to investors
http://www.nypost.com/p/news/business/mets_next_pitch_WTbeypwaj93Lp1Mb58gOQN#ixzz1cr5G1BU4
Mets lay off 10 percent of staff
http://www.nypost.com/p/news/local/queens/front_office_met_ax_uFsH3565WnN4JOaARQlTvJ
If Reyes waits, he’ll get big bucks — but not from Mets
http://www.nypost.com/p/sports/mets/trickle_down_economics_G5wFhNifw09CEk4T1NzDSP#ixzz1cr6V5yAp
When David Einhorn offered to save the Wilpons by buying a minority stake in the team… Continue reading
In the last 45 minutes of trading on October 4, the US stock market shot up almost 4% on a rumor that France and Germany would talk about a plan for the Euro debt crisis. Since then European leaders have met several times to distribute “hopium” to observers, but nothing of substance. Despite the lack of substance, the US market has risen almost 16% since the intraday low on October… Continue reading
I think Jobs would have been impressed…and probably would have spent hours trying to figure out how to build a robot that could kick this one’s ass.
H/T Marginal Revolution
Mona Simpson’s Jobs Eulogy Here: http://www.nytimes.com/2011/10/30/opinion/mona-simpsons-eulogy-for-steve-jobs.html?_r=2&pagewanted=all
H/T: Cafe Hayek… Continue reading
Uh oh.
…MIT Sloan School of Management professor Simon Johnson didn’t equivocate on the perils of the current global economic environment. “We have built a dangerous financial system in the United States and Europe,” said the former chief economist at the International Monetary Fund….
Professor Johnson cited alarming parallels with October 1931, when “people thought the worst was behind them, but the smart people were… Continue reading
Two days ago I wrote about the baby tourism industry on which a Rock Center segment focused: http://amarginofsafety.com/2011/10/31/baby-toursim-us-problem-or-opportunity/
Today a Wall Street Journal story highlights that allowing wealthy foreigners to immigrate to the US may be more of an opportunity than many know–under the proper conditions, of course.
It should be no surpise that… Continue reading
Interesting DJ Newsire Market Talk story:
DOW JONES NEWSWIRES
1:04 (Dow Jones) “Even if the Greek referendum problem is ironed out, hopes within the euro-zone that governments from outside the region will contribute to an increase in the ‘firepower’ of the European Financial Stability Facility (EFSF) already look dead in the water,” Capital Economics writes. “The notion that developing economies should bail out rich European countries always looked… Continue reading
Brian Williams’ new show, Rock Center, broadcast this evening with a piece on wealthy foreign pregnant women–many Chinese–who are coming to the US to give birth so that their children can receive citizenship and a Social Security card. Many are outraged by this because they believe that these families are extracting benefits and giving little in return. Many want to ban the practice.
I, however, think a… Continue reading
