The credit bubble, the bears and the central bankers Gillian Tett, FT
USA Economic Outlook Appears Stable Econintersect
Wells Fargo’s Master Spin Job Matt Taibbi, Rolling Stone
UK banking’s sorry tale draws slowly to a close FT. “Other industries do not react to hard times by conning their client base.” Oh?
The rise of mission-oriented state investment banks: the cases of Germany’s KfW and Brazil’s BNDES (PDF) SPRU Working Paper Series (Rob Parenteau).
Prison vs. Harvard in an Unlikely Debate Wall Street Journal. Actual, tournament-style debating!
TPP trade deadlock: Japan leans on US to break impasse Reuters. Huh? Who’s the hegemon, here, anyhow?
The Trans-Pacific Free-Trade Charade Joseph Stiglitz, Project Syndicate
Kunduz Hospital Bombing Exposes U.S. Airstrike Hypocrisy Moon of Alabama
Some Tips for the Long-Distance Traveller LRB. Handy diagram of route from Syria to Germany.
The U.S. Is Much More Violent Than Other Countries Wonkwire (Furzy Mouse).
Insiders: Sanders needs big money Politico. And they know where to get some!
A Fiduciary Critic, Representing Whose Interest? Barry Ritholtz, Bloomberg
1099 as antitrust Interfluidity
Champ Ali in Camden Postcards from the End of America
What is the worst part about working at Google? Quora. This is interesting:
I worked there for 7 years, and it is truly an outstanding company. Everywhere you turn one person is more impressive than the next.
I used to joke with my colleagues that Larry & Sergey go out on their yachts – tie them together, sit back on the same recliners you’ll find on their jumbo jet, each on his own yacht/set of yachts, smoke cigars, and put up pictures of Googlers with little snippets like “was a GM at muti-national telecomm company, got a Harvard MBA and is now answering Orkut tickets.” and then they would erupt in laughter and clink their cigars & Scotch together in celebration. This, of course, is highly unlikely given neither of them would ever smoke a cigar or drink Scotch. Remainder is plausible.
Here’s something to ponder. The only meaningful organic products to come out of Google were Search and then AdSense. (Android – awesome, purchased. YouTube – awesome, purchased, etc. Larry and/or Sergey were obviously intimately involved in both. Maps – awesome, purchased. Google Plus is a flop for all non-Googlers globally, Chrome browser is great, but no direct monetization (indirectly protects search), the world has passed the Chrome OS by… etc. ) Fast forward 14 years, and the next big thing from Google, I bet, will be Google Glass, and guess who PMd it. Sergey Brin. Tiny number of wave creators, huge number of surfers.
Thorstein Veblen would call this a case of business sabotaging industry.
Web warriors unite for an F5 rebellion Bangkok Post Bangkok Post. Amazingly, it’s possible to execute a DDoS attack without programming, rather like what happened to the ObamaCare website on launch day, if a large number of users refresh or ping the same URL simultaneously. (F5 is the Refresh key, not the aircraft).
Retrotopia: A Change of Habit The Archdruid Report
Antidote du jour (via Nayyer Reza at @planetepics):