naked capitalism

Overweight Americans Push Back on Health Debate New York Times. I am going to be non-PC. I am not sympathetic. This is a public health crisis (diabetes, for starters) and we have people defending…”weight diversity?”

Consequences of the Lehman failure Jim Hamilton

Health Care Bill Passes Through House. Politics Still SUCK EconomPic Data

The media market has a conservative bias John Hempton

California bank failure will cost FDIC $1.4 billion MarketWatch (hat tip reader John D)

GOP Members Shout Down Women Members of Congress Matt Yglesias

“Why Do Central Banks Have Assets?” Mark Thoma

Consumer credit down, but does it show deleveraging? Ed Harrison

The third-quarter productivity numbers show that business is squeezing more work out of employees in hard times Business Week (hat tip DoctoRx)

The First Call Before The First Call Cassandra

Antidote du jour:

Three bald bears perplex experts BBC

Antidepressants and Violence EconoSpeak. One of my pet peeves is how psychoactive medications are handed out like candy in the US. Just go to your MD, say you are exhausted, and once they eliminate anemia, chronic fatigue syndrome, and low thryoid, they assume it’s in your head and will offer you all sorts of mood altering goodies.

What does Google Suggest suggest about the state of humanity? CNet

Jon Stewart spoofs Glenn Beck Ed Harrison. Too funny.

Landing a job like getting into Harvard CNN (hat tip Felix Salmon)

A Tsunami of Red Ink Michael Panzner

Wall Street still overestimating the American consumer The Economic Populist

JRE Keeps You Entertained All Weekend: It’s not nice to make fun of Telstra Josh Reviews Everything. Two of my accomplishments when I lived in Australia were victories against Telstra. The first was getting Telstra to correct a large overcharge on my mobile phone bill. You have no idea what that entails. The second was, after I was told I would have to wait three weeks to get broadband (!) because there were no open ports in my local office, finding an open port on my own and using that info to insist they give me service sooner. This post is further confirmation that all the bad things said about Telstra are accurate.

“Demystifying Social Knowledge” Mark Thoma

Consumer debt drops for record 8th straight month MarketWatch (hat tip reader John D)

Report: 237 millionaires in Congress Politico (hat tip reader John D)

Bank of England says financiers are fuelling an economic ‘doom loop’ Telegraph. It is striking how the BofE is willing to take on the banksters, when no one in the officialdom here will.

Nominally misguided (wonkish) Paul Krugman

Barking Up the Wrong Tree Roger Ehrenberg. Today’s must read

Antidote du jour:

Newborn Babies Cry in Native Tongue Live Science (hat tip reader John D)

Understanding long term chronic pain symptoms from minor motor vehicle accidents RFK Action Front, This is intriguing.

Second Life creates virtual world for businesses Raw Story (hat tip reader John D)

Fannie Mae’s results – oh, and what if Bank of America reported the same way… John Hempton

Dollar rise *alert* FT Alphaville

Reed Apologies for Glass Steagall Repeal, Building Citigroup Bloomberg

Banks Thwarting Feinberg Pay Model by Changing Bonus Formulas Bloomberg. I’d post on this, but it has been in “story to follow” mode for three hours.

Federal Reserve Loses Expanded Powers Proposed By Obama Administration Shahien Nasiripour Huffington Post

Wells Fargo Takes Chance With a Loan Exchange Wall Street Journal. More smoke and mirrors at Wells.

Endless Summers Vanity Fair (hat tip Ed Harrison). I suggest you not read this if you have just eaten, you might lose your meal.

Goldman/Buffett/Fannie Tax Deal Inked a Month Ago Bruce Krasting

Wall Street: the Real Roadblock to Economic Recovery Ann Burger New Deal 2.0

Antidote du jour:

Fake AP Stylebook Steers You Completely Wrong — With Style Wired

Rare whale gathering sighted BBC

How central bank repos create conflicts of interest FT Alphaville

Did We Learn Anything? Carry Trade Edition EconomPic Data

Lending must support the real economy Dirk Bezemer, Financial Times

Men in part-time work paid less than women Independent

Sympathy for the Treasury Steve Waldman. The most comprehensive write-up of the meeting some bloggers had at the Treasury, and it is quite accurate, both from a content and as he put it, an anthropological standpoint. Also contains links to the other posts from participants.

Antidote du jour:

Anthropologist Levi-Strauss dies BBC

To Breed or Not to Breed? h+

The Fed Thoughtfully Strokes Its Beard, Flaps Its Gums Annaly Salvos (hat tip reader Scott)

About to think the unthinkable Wolfgang Munchau, Eurointelligence

Prichard Alabama Files Bankruptcy Over Pensions; Wildcat Strike In Philadelphia; Oregon’s Financial Gamble Michael Shedlock

Fears of a New Bubble as Cash Pours In Wall Street Journal. It is telling that the article describes this as something that the authorities worry will happen, as opposed to is happening.

Pull the plug on the Afghan surge Financial Times

Second Law of Thermodynamics May Explain Economic Evolution PhysOrg (hat tip reader pls)

Wilbur Ross: Commercial Real Estate Crisis Still Looms Boom2Bust

The Coming Collapse of the Municipal Bond Market Phil Greenspun (hat tip reader Dwight)

Should central banks be quasi-fiscal actors? Willem Buiter

Antidote du jour:

Dear readers, I stupidly have been trying to write a post when overtired, with the result that it isn’t done (taking 4x as long as it should). Apologies, will have something for you later today.

Making a Smarter Rat h+ (hat tip reader David C)

Will Citigroup rise again from its near death experience? FT Alphaville

Character Study Epicurean Dealmaker

Antidote du jour:

Tuna ban ‘justified’ by science BBC

The sex life of seahorses Guardian

Richmond Fed on the GSE’s – “They Encourage Defaults” Bruce Krasting. This study breaks a cardinal rule: correlation is not causation.

Dollar Homes Lack Buyers NBC Chicago (hat tip reader John D)

Cushions are thicker but don’t get comfy Rolfe Winkler

Note to Congress: You Are Not the People You Serve James Kwak

High quality imports suffer more during recessions Antoine Berthou and Charlotte Emlinger, VoxEU

It is Japan we should be worrying about, not America Ambrose Evans Pritchard. Note that whether you agree with Evans-Pritchard will depend on where you came out in our debate on debt last week (ie, your understanding of government monetary operations)

Antidote du jour:

Polar bear plus grizzly equals? BBC

A farmer’s field of dreams buries climate change war The Age

Schwarzenegger’s secret message to the state Assembly: ‘F*ck you.’ Think Progress (hat tip reader Scott)

An Old Master, Back in Fashion Devin Leonard, New York Times

Band of Dems Blasts Geithner Plan Washington Independent (hat tip reader John D)

The G.O.P. Stalinists Invade Upstate New York Frank Rich, New York Times. This is becoming surreal. Given the trajectory of the economy, and the overly bank friendly policies of Team Obama, the Dems should be in trouble. But the radical right wing Republicans are so self destructive that we may see a race to the bottom.

Antidote du jour:

California among 15 states suing Amgen over anemia drug Los Angeles Times

Bad C’s Michael Panzner

Hampton Georgia (Pop. 5,300) Attacked by FDIC, FHA, Fannie and Freddie Bruce Krasting

EU competition commission foists draconian remedies on RBS Telegraph (hat tip Swedish Lex)

Shock and Awe The Epicurean Dealmaker

Antidote du jour:

You get an antidote from the antidote:

The Value of the “Too Big to Fail” Big Bank Subsidy Dean Baker and Travis McArthur

Congress and TBTF – Bring in the Bomb Squad Josh Rosner (hat tip reader John Bougearel)

Antidote du jour: