On the reception and detection of pseudo-profound bullshit Judgment and Decision Making (Dr. Kevin). Important. For instance, “As a prime example, the necessary succinctness and
rapidity of “Twitter” (140 characters per “Tweet”) may be particularly conducive to the promulgation of bullshit.”
See the robotic insect that flies and perches BBC (David L)
Genetically modified salmon approved for consumption in Canada Globe and Mail. Frosty Zoom: “The money quote: ‘The fish will not need to be labelled as genetically modified.'”
China’s Debt Bomb Barry Ritholtz (resilc)
Is China a House of Cards? Pepe Escobar, Sputnik (resilc)
China criticizes US steel anti-dumping measures Associated Press (EM)
Salmond: Brexit could trigger Scottish independence in two years Agence France-Presse
‘Brexit’ or Not, U.K. Is Part of Europe Wall Street Journal
Berlin seeks to reach Greece deal with IMF Financial Times. Schauble is making more conciliatory noises, but there is still no overlap between the IMF’s and Germany’s positions.
U.S. Treasury’s Lew urges flexibility on Greek debt talks Reuters. Translation: The Treasury supports the IMF in public. But the real question is how far Treasury is willing to go in private.
Democracy under Attack in Poland Defend Democracy
Israel and Saudi Arabia: Strange Bedfellows in the New Middle East Foreign Policy in Focus (resilc)
Big Brother is Watching You Watch
Wrist Sensor Tracks Blood Alcohol Content In Real Time Popular Science (resilc)
Imperial Collapse Watch
NSA Participated In the Worst Abuses of the Iraq War George Washington
“In NATO tank competition, U.S. comes up short against Germany” Washpost Sic Semper Tyrannis (resilc)
Big Report, Little Finding: The ITC evaluates the economic impact of the TPP Jared Bernstein. “The findings are largely positive on net but tiny..” And we have the considerable national sovereignity offsets.
Is India holding the line against another TPP? East Asia Forum
Shadow Banks Clinton Flags as Risky Put Millions Into Her Run Bloomberg (resilc)
Clinton to Californians: Your Votes Will Not Affect the Democratic Primary Whatsoever Huffington Post. Today’s must read. As Lambert recommended, be sure to see the section starting, “CUOMO: So, you get into the general election, if you’re the nominee, for your party” Breathtaking arrogance.
Love Me, Love Me, Love Me, I’m a Leninist Corey Robin (martha r). A must read.
Hillary’s Support Among Democrats Fades As Party Crisis Looms Investors’ Business Daily (martha r)
Bradley Schrager, Andrew Davey, Riley Snyder KNPB Channel 5 Video. Martha r: “Ralston’s show for tonight. Ralston breaks down the Nev Dem convention. Discussion starts around 7:00 and goes to around 24:00. Blatant falsehoods.”
Did Sanders Supporters Throw Chairs at Nevada Democratic Convention? Snopes (martha r)
Never underestimate the Democrats’ ability to blow a presidential race The Week (resilc)
DNC to offer Sanders a convention concession Washington Post (martha r)
Clinton’s Hawkish Admirers American Conservative (resilc)
Are Economists Idiots or Just Delusional? Angry Bear. On health care costs.
The TSA will ruin your summer vacation and no one can agree on a fix The Verge. A not-bad headline, but the article fails to mention that the criticisms of the TSA were amped up to undermine its union. And notice the three NY airports think the problem is the private contractors (or perhaps more accurately, the staffing the private contractors deem necessary to meet their obligations).
Yahoo Suitors Expected to Bid $2 Billion to $3 Billion, Below Past Indications Wall Street Journal
Nasdaq just went nuclear on the SEC Business Insider (David L). Over the IEX application to become an exchange.
A 50-Year U.S. Bond Makes More Sense Than Ever Bloomberg. Resilc: “No way, try the endless war bond instead.”
Hedge fund took out loan for private jet amid bribery inquiry Financial Times
‘Low-for-long’ interest rates and net interest margins of banks VoxEU. Confirming Izabella at FTAlphaville.
How the computer transformed economics. And didn’t. Institute for New Economic Thinking (Chuck L)
Top Economic Blogs of 2016 Intelligent Economist. Resilc protested NC being #21, but the ranking puts MSM and “institutional” blogs above “general blogs” which is where we sit. We’ve pretty much always ranked between #2 and #5 in stand-alone blog rankings (we’re #4 in this categorization), save one that was a network analysis based on influence that put us as #1, ahead even of Krugman and FT Alphaville. But this looks to have a right-wing bias. New Economic Perspectives and the Institute for New Economic Thinking’s blogs are missing. And VoxEu and Bruegel are also absent.
Fed Hike Threat Has Wall Street Braced for the Worst Fiscal Times
As US politicians romanticize doomed manufacturing jobs, the new working class is suffering Quartz (resilc). Important.
Elizabeth Warren slams Uber and Lyft Financial Times
Pope condemns ‘bloodsuckers’ who exploit poor workers Reuters (furzy)
Antidote du jour. @Strange_Animals: “The adorable silky anteater is the smallest species of anteater, with a body length of just 19 cm.”