Afghan troops overrated, audit to show Financial Times. This is news? Well, maybe the bit that the officialdom can no longer pretend otherwise.
War on the World: Obama’s Surge in State Terror Chris Floyd
Israel Spurns Outside Gaza Raid Probe in Favor of Own Inquiry Bloomberg. This wasn’t smart tactically. They could have arrived at the same end by saying they welcomed an investigation but doubted the UN would be able to come up with a committee that would be neutral (and then negotiate the composition of said committee into the ground).
To Avoid Voter Rage, Democrats Skip Town Halls New York Times (hat tip reader Gonzalo Lira)
Technology: Spaces invader Google v. Apple.
How can an ethical fund hold BP? Telegraph. Easy, the people who rate them said BP was an upstanding company.
Euro ‘will be dead in five years’ Telegraph. European readers will be certain to note that the survey was of London based economists and therefore is a skewed sample.
The real vultures vs the eurozone John Dizard, Financial Times
Banks should give customers ‘bomb-proof’ accounts, says Policy Exchange think-tank Telegraph. An interesting proposal, but not quite as novel as the writer suggests. “Narrow banking” proposals like this go back to the 1930s.
A Good Crisis, Wasted Tim Duy
Don’t Get Mad, Mr. President. Get Even. Frank Rich, New York Times. In case you missed this, a great piece. Obama has ignored Machiavelli’s most important bit of advice: it is more important for a prince to be feared than loved.
The New Market Makers Rajiv Sethi. An excellent post. Key observation:
Generally speaking, stability in financial markets depends on the extent to which trading is based on fundamental information about the securities that are changing hands. If too great a proportion of total volume is driven by strategies that try to extract information from market data, the data itself becomes less informative over time and severe disruptions can arise.
Antidote du jour: