‘Rapture’ Prophet Camping: World Will ‘Probably’ End Quietly Next Friday NPR. I can tell you with great confidence we don’t get out of life on this plane of existence that easily.
Fertile Frontiers ScienceNews
In California, Going All Out to Bid Adieu to Foie Gras New York Times. Noodling geese (the term of art for force feeding them to make their livers large) really is pretty cruel.
Doctor group calls for pot legalization Los Angeles Times
Liam Fox resignation exposes Tory links to US radical right Guardian (hat tip Buzz Potamkin)
So, how many times have banks had people arrested who tried to close their accounts? Lambert Strether. You must watch the video.
Wall Street Protests Spread Globally, With Rome Violence, Calm Elsewhere Bloomberg. Not a bad headline.
Meet the New Faces of Wall Street New York Times. Quelle surprise! A little slide show reveals OccupyWallStreet to be a cross section of New Yorkers.
America’s ‘Primal Scream’ Nicholas Kristof, New York Times. Kristof gets it.
The Fantastic Success of Occupy Wall Street Immanuel Wallerstein, Binghampton University (hat tip reader Pau Tioxon)
Fannie and Freddie, Still the Socialites Gretchen Morgenson, New York Times
Online Banking Keeps Customers on Hook for Fees New York Times
Did Speculation Drive Oil Prices? Mark Thoma. This Dallas Fed paper is an embarrassment. First, it ignores the fact that even theory says inventories should increase with a lag (this is in the academic literature, if they’d bother to read it). Second, it ignores the fact that oil can be and is stored in the ground (!) and that some inventories (namely, the Strategic Petroleum Reserve, which weirdly is not included in official inventories) were increasing. Third, it ALSO ignores that futures, not spot, are where prices are set for oil sold by OPEC. So they rely on a “futures converges to cash” assumption which is not true for the marginal producers of oil. But the Fed is determined not to see speculation, so they managed not to see it.
Antidote du jour: