Peer-to-Peer Hucksterism: An Open Letter to Tim Wu Tom Slee (Lambert)
Melbourne home sales hit 16-year lows MacroBusiness
Bushfires in Australia leave path of destruction Guardian :-(
China blazes trail for ‘clean’ nuclear power from thorium Ambrose Evans-Pritchard, Telegraph
Exclusive: Financial Times shops for China buyer South China Morning Post
City Setting, but Village Mentalities New York Times. May S:
It is more than patriarchy that is involved in India’s big rape case and epidemic of rapes. It is caste culture. Rape and ubse of women is a a part of caste discrimination and caste punishment. Then the people who face this society everyday come to cities when they find no more work in rural areas.
Delhi is known as rape capital I assume because it is a magnet for migrants from Northern India the most (this is the most casteist part of India).
Cracks widen in US debt ceiling debate Financial Times. Pelosi starts 14th Amendment saber-rattling.
The Big Fail Paul Krugman, New York Times
US joins misguided pursuit of austerity Wolfgang Munchau, Financial Times. This is a really good piece, particularly in its discussion of austerity as a “multi-annual program”. The CBO should be indicted for malpractice for producing forecasts that show that budget cuts will produce an initial six month slump, then lead to a nice rebound due to confidence fairy effects. “Hockey stick” forecasts are a staple of dubious business forecasts, and are now being emulated in official circles.
Trillion Dollar Coin: Posts on Legality and Constitutionality New Economic Perspectives
The Desperate, Outnumbered Neo-Confederacy Continues Its Fantasy of Rising Again Pam Spaulding, Firedoglake
Bullets Are Safety Net as 64 Mentally Ill Die at Hands of Police Bloomberg (May S). From the end of last year, still worth reading.
Banks at risk of ‘perpetual’ cycle of bankruptcy, warns Alix Telegraph (May S). Why should they care if the government won’t let them fail?
Banks win victory over new Basel liquidity rules Independent. This is one of multiple sightings of Basel III being watered down to homeopathic doses.
Deal in Foreclosure Case Is Imminent, Officials Say New York Times. Pathetic. The Fed wanted an additional $300 million and backed down.
OCC lowers JP Morgan Chase’s CRA Grade to Satisfactory Consumer Law & Policy Blog (Deontos)
Small business lending is profitable as long as lenders stay away from the really small businesses Sober Look. So guess where these small fry who on average are bad bets for lenders will go? To sucker equity investors, thanks to the JOBS Act.
How bad language can catch financial rogues Financial Times. What I cannot get over is how much dubious behavior is commemorated in e-mails.
Less Pay for New M.B.A.s Wall Street Journal. That bubble may be coming to an end.
Law-Firm Partners Face Layoffs Wall Street Journal. By contrast, this is cyclical rather than secular.
Antidote du jour: