Minority Rules: Scientists Discover Tipping Point for the Spread of Ideas Science Blog (hat tip reader furzy mouse). This is an important piece.
The Great Gulf Holocaust David Hodges
The New York Times Paywall Is Working Felix Salmon, Columbia Journalism Review
A very secret agent Asia Times (hat tip reader Deus DJ)
China’s crumbling infrastructure model MacroBusiness
O’Reilly’s Muslim-Hatred and Christian Terrorists Juan Cole (hat tip reader James B)
Krugman on the Debt Debate: Cults, Centrists and Balance Scarecrow, FireDogLake
Treasury to Weigh Which Bills to Pay New York Times. They are actually saying they might not pay Social Security.
Debt-ceiling threat has Wall Street scrambling Los Angeles Times (hat tip reader furzy mouse). The important part is that businesses have woken up and are lobbying.
Wall Street Traders Are Postponing Vacations Because They’re Too Scared To Leave The Floor Before August 2 Clusterstock (hat tip reader furzy mouse)
Fed under fire over default talks Financial Times. They never worried about such niceties during the last crisis. But then again, the Fed was consistently slow to act and then overreacted.
Residents Soldier On as Alabama County Mulls Bankruptcy Wall Street Journal
Orders for U.S. Durable Goods Fell in June Bloomberg. The only reason for including this article is as an example of the preferred formula for reporting bad economic news: it was “unexpected”. And they make it sound like random bad luck: first it was Fukushima, now it’s consumers as opposed to “we are deleveraging and any good new is temporary until we get private debt levels down.”
America’s turbulent jobs flight John Gapper, Financial Times
How America Could Collapse Matt Stoller, Nation
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