Australia Floods Damage Crops, Disrupt Coal Output Bloomberg. When I was in Sydney, one week had the most astonishing rain I can recall. It was extremely heavy the entire time, interrupted by 4-5 absolutely torrential downpours per day. I recall it being reported on TV as 230 centimeters for the week, which I must have heard incorrectly but trust me, it was pretty impressive regardless.
Japan’s Robot Picks Only the Ripest Strawberries Singularity Hub
Saudi Arabia is ‘biggest funder of terrorists’ Independent (hat tip reader May S)
Hungarian Forint Slips on Moody’s Downgrade WSJ MarketBeat
A hopeless Europe, unable to cope Wolfgang Munchau, Financial Times
Juncker and Tremonti: “E-bonds would end the crisis” Eurointelligence
Global Imbalances and the War of Attrition Chevelle. This is a cogent analysis, but I doubt this is what is driving the Fed’s policy (or it is at most a secondary consideration).
Let’s Not Make a Deal Paul Krugman, New York Times
Dem: We could have let economy fall and been in majority for 40 years The Hill. So the bailouts and having the banksters loot on a massive scale is better? This sort of discussion reinforces the ongoingfalse dichotomy, the choices weren’t TARP v. do nothing, there were other possible courses of action.
Pay Freeze Could Cripple Dodd-Frank Dave Dayen, FireDogLake. Is this a bug or a feature?
Foreclosure paperwork miscues piling up Denver Post (hat tip Max Gardner). Another case of someone being foreclosed upon who is current, in this case, they paid off their mortgage!
Paxman Meets Hitchens Paul Kedrosky. Even when Hitchens is off base, he’s sufficiently articulate about it to force opponents to sharpen their rebuttals.
Amex chief calls for jobs taskforce Financial Times. This is interesting. Is it mere window-dressing, or a sign that some senior businessmen are wiling to break ranks with plutocrat-favoring policies? Recall that Simon Johnson, in his Atlantic article The Quiet Coup, stressed that the only way third world countries implemented reform programs was when some of the oligarchs decided to break ranks.
Global Health and Wealth over Two Centuries Rajiv Sethi
The NYT loves Jamie Dimon Felix Salmon. I promised a shred of this piece, but I could barely stomach reading it. I would have been snarkier than Felix, but he points out many of the problems with this example of hagiography masquerading as reporting.
Antidote du jour (credit http://www.zveryshki.ru/: