Readings From Monday

This is a free movie produced by a group of two guys called the Yes Men. Basically they find ways to trick event promoters, journalists, and talk show hosts into believing that they represent some company. They then go on to embarrass the company by revealing truths, stating positions that make sense but that the company themselves would never agree to, or just straight up comedy. At the very least watch the first 10 minutes or so.

Economists View via Krugman (seem to be reading a lot of him lately... yet he's so accurate and great at representing data) - why the climate bill was killed.

The Big Picture explains why deficits don't matter much to bond holders which is kind of an explanation of what Krugman would call the invisible bond vigilantes. thirty year bond notes are still below 3%... Also, AMAZING graphic on federal income and expenditures.

(Explanation of what I'm talking about - bonds being below 3% means that EVERYONE is willing to lend the US government money because they view it as safe. This goes somewhat counter to the idea being promulgated by conservatives that as the government amasses more debt bond buyers will at some point be completely unwilling to lend the government money and bond prices will soar and we will be unable to finance our expenditures - i.e. Greece. My own addition to this is that the US government enjoys a position of lender of last resort to the world - that is - if we default the world we know will cease to exist. It will make the Great Depression look like a shallow recession. It's like the Supreme Court, it's not that they're infallible, they're infallible because they're the highest court in the land.)

The Big Picture on net worth on as percentage of disposable income.

Algae as a biofuel seems to be nearing the possibility stage.

The biggest story of the day - wikileaks published 77,000 reports from Afghanistan that give a different view of the war then what is generally portrayed.

This is a must read: Martin Wolf, a British economist, explains supply side economics or rather the failure of along with a host of other scientifically broken models that politicians love to tout. Scarey. Here's Krugmans simple take down of supply side economics.

Nanosecond market trading pushes the envelope of internet speeds for all.