Lynn Parramore: Class of 2013 – All Dressed Up and No Place to Work
A weak job market, killer student loans and a crappy economy mean continued struggle for America’s college grads.
Read more...Author Archives: Yves Smith
Patrick Durusau: Social Security Numbers – Close Enough for a Drone Strike?
Yves here. It’s important to understand the scope and caliber of the police state apparatus that’s in place. The fact that it’s “dirty” meaning error-ridden and incomplete, is likely the big reason you have analysts like Edward Snowden with wide-ranging access. You still need humans to make connections and interpretations (and that introduces another layer for errors and plants to occur). And that also no doubt is used to justify even wider-ranging and more intrusive searches, such as NSA analysts listening to personal phone conversations of soldiers stationed in Iraq. That sort of casualness leads to abuses like NSA snoops inviting their colleagues to listen in on phone sex.
Read more...Richard Alford: Trust in Economists?
By Richard Alford, a former New York Fed economist. Since then, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side
The greatest deception men suffer is from their own opinions.
The supreme misfortune is when theory outstrips performance.
Leonardo da Vinci
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Site Switchover Notice
Links 6/10/13
Edward Snowden Makes Himself an Even Bigger Problem to the Officialdom
Former CIA employee, most recently Booz Allen employee Edward Snowden was already the intel community’s biggest nightmare, and now this:
Read more...Mary Jo White Institutionalizes Deutsche Bank Protection Racket at the SEC
The Financial Times has caught a significant revolving door that its business press peers have largely overlooked.
Read more...Mortgage Delinquencies Down….But a Record 843 Days to Foreclose
Yves here. While most investors and analysts were busy fixating on the Fed’s taper and the unemployment report and the Abenomics roller coaster, some important housing market news slipped under the radar.
Read more...Lynn Parramore: Half Lives – Why the Part-time Economy Is Bad for Everyone
Why is a whole job getting harder to find every day in America?
Read more...Links 6/9/13
Sheila Bair: Everything the IMF Wanted to Know About Financial Regulation and Wasn’t Afraid to Ask
Does anybody have a clear vision of the desirable financial system of the future?
Read more...Obama Defends “Big Brother” Powers
The NC commentariat has already done a deep dive into the IT and practical issues surrounding the NSA surveillance program leaks from Glenn Greenwald and the Guardian. This Real News Network interview with Paul Jay looks at the Administration’s initial response to those revelations. It’s a useful piece to circulate to friends and colleagues who might be unduly receptive to the “this is all done for your safety” claims. I suppose it’s useful to have Obama make it explicit he thinks that his interpretation of security needs comes before upholding the Constitution.
Read more...Links 6/8/13
Update on Site Performance Issues
Site performance has been lousy for the last week or so and absolutely terrible for the last 36 hours.
I think we have it fixed for now.
Read more...Mr. Market’s Temper Tantrum Over Fed Tapering Talk
Lordie, the market upset we’ve had over the past week plus over Bernanke using the T, as in “tapering” word, is escalating into a full-blown hissy fit. We now have the Wall Street Journal and other finance-oriented venues telling us how unbelievably important today’s job report is. Huh? One jobs report is just another in a long series of data points.
So why has this one been assigned earth-shaking importance?
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