A late comment from reader reslez in Lambert’s VP debate live blog that I thought should not be missed:
Two politicians, alike in infamy,
In fair Virginia where we lay our scene,
From Wall Street partisan to Trumpeteer,
Where Syrian blood makes all hands unclean.
From forth the fatal loins of these two foes
A pair of grasping gasbags takes their place;
Whose misadventured podiums overthrow
Do with their wind inflate their pilots’ strife.
The groaning drivel of debt hysteria,
And the continuance of the voters’ rage,
Which, but their leaders’ end, nought could remove,
Is the ninety minute traffic of our stage;
The which if you with patient eyes attend,
What here shall miss, our blogger’s toil shall mend.
Watch A Bumblebee Tug A String To Get Lunch PopSci (Robert M)
Brain-Training Apps Won’t Make You Smarter ... MIT Technology Review (David L)
Leaders Pledge Action to Control Superbugs TripleCrisis
Hong Kong activist Joshua Wong detained in Thailand ‘at China’s request’ – reports Guardian (furzy). But Twitter says he has landed in Hong Kong.
China bubble cities keep tightening, bust imminent? MacroBusiness
IMF lowers growth forecast for US and other advanced economies Financial Times
Uri, Surgical Strikes and International Reactions Institute for Defense Studies and Analyses. Stephen L: “Pro-Indian take on the so called ‘surgical strikes’ in Kashmir. My dad was a ceasefire observer for UNMOGIP (United Nations Military Observer Group India-Pakistan). He would find this article interesting.”
Backlash to World Economic Order Clouds Outlook at IMF Talks Bloomberg (furzy)
Exclusive: EU’s richest countries getting lion’s share of bloc’s investment plan Reuters. Quelle surprise.
Europe’s health systems on life support Politico. Note Politico is solidly neoliberal and hence the article ignores or finesses several issues. One is that Eurozone budget rules have squeezed all spending, including health care system spending, when the underlying demand is not elastic. Two, the Euro has dropped a lot, which means any foreign purchases, like US drugs and medical devices, will have shown big price increases. Three, the article mentions costly new drugs. In Australia, the Therapeutic Goods Administration decides what drugs doctors can prescribe and often rejects “new” drugs which are costly minor reformulations of existing drugs. However, to the extent that these new drugs are real advances and treat dangerous ailments, Europe’s bargaining position in undermined by the US’s refusal to negotiate or put other curbs on drug prices
Commonwealth fears Brexit vote fallout Financial Times
Liam Fox: EU nationals in UK one of ‘main cards’ in Brexit negotiations Guardian (Richard Smith)
Vancouver Imposed 15% Foreign Tax in July, September Home Sales Plunged 33% Michael Shedlock (furzy)
No-fly zone would ‘require war with Syria and Russia’ — top US general YouTube (Selva). In case you hadn’t figured that out.
Syria isn’t a cold war conflict: the US and Russia can’t just fix it Guardian (Joe H)
Do We Really Want Nuclear War with Russia? Robert Parry, Defend Democracy
Obama Warned to Defuse Tensions with Russia Defend Democracy
Yemen central bank crisis raises new famine fears Reuters (allan)
Big Brother is Watching You Watch
J&J warns diabetic patients – Insulin pump vulnerable to hacking Reuters (allan)
Imperial Collapse Watch
Clinton E-mail Hairball
Fact-checking the vice-presidential debate between Kaine and Pence Washington Post (furzy)
VP debate shows a way forward for Trump Financial Times. Trump would need an appointment with his own Dr. Feelgood to pull this off…would probably take a lot of ‘ludes.
‘The Onion’ Has Obtained Donald Trump’s Tax Returns And Has Chosen To Destroy Them Onion (David L). One big error: the tax returns would not have provided any insight into Trump’s net worth
Hillary Should Ask Jamie Dimon What Kind of Genius Loses $6.2 Billion Pam Martens and Russ Martens. But didn’t you get the memo? Losses at TBTFs don’t count.
Supreme Court to weigh reach of insider trading law Reuters (EM)
Barack Obama began his term with fine speeches and high hopes. But he underestimated the US need for radical change. Le Monde Diplomatique (Sid S)
U.S. transport chief: automakers will back self-driving car oversight Reuters. EM: “Ah yes, ‘voluntary guidelines’ – because that sort of thing has such a great history of working to curb corporate abuses!”
A Quarter of Millennials Avoid the Flu Vaccine Because of the Cost Bloomberg (furzy). I am not opposed to vaccines, but the flu vaccine is low efficacy and unless they have an underlying physical condition that makes flu dangerous to them, this is not the most troubling indicator of the fallen economic standing of the young that I’d cite. I don’t get flu vaccines either just because I think we all need to do our part to stop overtreatment (I’ve similarly nixed EKG and some other tests).
Fitch warns Wells Fargo over AA rating Financial Times
Wells Fargo Account Scandal Extends to Small Business Reuters. And Stumpf still has a job…this really is not wise.
Investors in Mortgage Giants Win Round in Suit Against U.S Gretchen Morgenson, New York Times. This case was really egregious, so good to see the investors score a goal.
Deutsche Bank offers a tough lesson in risk Martin Wolf, Financial Times. Offers some good as well as many conventional high level observations, but one is really off base: “A third lesson is that banks are still undercapitalised, relative to the scale of their balance sheets… More immediately, we lack reliable means of rectifying this.” This is nonsense. TBTF banks have nowhere to go. No country will take them. Switzerland required its two biggest banks, UBS and Credit Suisse, to meet 19% capital levels. UBS flailed around trying to relocate, which predictably failed. Both exited most of their investment banking businesses. Regulators can force banks to increase their capital. It’s just that most lack the will.
The Perils of Debt Complacency by Carmen Reinhart Project Syndicate. Phil U: “Pooh pooh -ing MMT using Eurozone countries. seriously?”
Markets eye the taper but fear the tantrum Financial Times
Owners at “Leaning Tower of San Francisco” Knock Condo Values to Zero Wolf Richter. Schadenfreude alert!
I Tested Out the $46,000 Rolls-Royce Picnic Basket Bloomberg (furzy). Notice how the frequency of entries in this category has gone way up recently?
Antidote du jour (Ben S):