Thursday, August 4, 2011

@10:45, 08/04/11 2

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  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Can New York Rival Silicon Valley for Start-Ups? - Room for Debate
    What would it take for New York City to become home to the next Facebook or Apple?
    Been there, done that.
    The financial industries and the real estate interests have decided that 
    there is no place for industry of any other kind in the city of New York. 
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Should Central Banks Buy Gold? - Room for Debate
    Gold is no longer a currency, but central banks and investors alike are hoarding it.
    No.
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    No City Has a Lock on Innovation - Room for Debate
    Until recently, 'technology' was about 'moving electrons on wires.' Now, it's is about building all kinds of applications on top of the Internet.
    That just makes the wires remote.  A startup needs cheap rent.
    Fred Wilson points out that the technology institutes already exist or have existed in and around New York.  
    Rebuilding bubbles is nearly impossible.
  • TimesPeople recommended an article:
    Aug 3, 2011
    Russia Becomes a Magnet for U.S. Fast-Food Chains
    There is a lot of data manipulation here.
    The fast food industry has been passionate in extracting money.


  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Why Facebook Moved Out West - Room for Debate
    The challenge for New York is to provide a nurturing soil in which entrepreneurs will want to grow.
    People follow money.   
    Very high rent in Palo Alto will quickly kill start-ups.  
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Within the Black Middle Class: Severe Hardship, Dashed Hopes - Room for Debate
    Blocked roads to social mobility, a continuing economic crisis and the belief among blacks that racism remains a major problem in the U.S. are a volatile combination.
    The economic disaster is viewed here as a national security issue.
  • TimesPeople recommended a video:
    Aug 3, 2011
    Crispy Fried Chicken
    Got it. I can do that.
    Looks good. I will give it a miss here.
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    The Tea Party Is Challenging the G.O.P. - Room for Debate
    The Tea Party seems to be on a collision course with three key Republican factions, conflicts which could fracture and even cripple that party.
    The markets speak on this.
    http://www.calculatedriskblog.com/2011/08/dow-down-500-s-off-48.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29
    "The Dow slid 512.61 points, or 4.3%, to 11383.83, erasing all its gains for 2011.
    ...
    The Standard & Poor's 500-stock index fell 60.26 points, or 4.8%, to 1200.08, putting it in correction territory, having fallen more than 10% since May. The Nasdaq Composite slumped 136.68 points, or 5.1%, to 2556.39, also in the red for the year."  WSJ
    http://krugman.blogs.nytimes.com/2011/08/04/rates-of-wrath/
    "The US 10-year bond rate is now down to 2.5%. So much for those bond vigilantes. What this rate is saying is that markets are pricing in terrible economic performance, quite possibly a double dip. And it also says that Washington’s deficit obsession has been utterly, totally wrong-headed.    . . .    (Europe)

    So things are falling apart all over. Maybe someone should do something?"   P.K.
  • TimesPeople recommended a user:
    Aug 3, 2011
    seanseamour
    • Marie Burns is following a user:
      Feb 2, 2011
      BorowitzReport

      http://www.borowitzreport.com/
      http://www.borowitzreport.com/2011/08/02/biden-compares-tea-party-to-terrorists-alqaeda-demands-apology/
      http://www.borowitzreport.com/2011/08/01/debt-ceiling-is-raised-before-tea-party-understands-what-it-is/
      "But even as the final agreement was being put to bed, Senate Minority Leader Mitch McConnell (R-KY) urged his Republican colleagues not to rest on their laurels: “Now, let us begin the hard work of creating the next crisis.”"
      I can't laugh at this stuff.  It is too close to fact.
  • TimesPeople recommended an article:
    Aug 3, 2011
    New York Subway’s Long Dance With a Typeface
    Clean and easily readable, Helvetica was a perfect match for the city’s jumble of subway lines. It just took city officials a few decades to realize it.
    The M.T.A sign shop is a very conservative operation.
    http://en.wikipedia.org/wiki/Helvetica
    ". . . developed in 1957 by Swiss typeface designer Max Miedinger with Eduard Hoffmann."
    http://en.wikipedia.org/wiki/New_York_Subway
    "The first underground line of the subway opened on October 27, 1904, almost 35 years after the opening of the first elevated line in New York City, which became the IRT Ninth Avenue Line."

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http://krugman.blogs.nytimes.com/2011/08/04/minus-512-2-4-percent/
 
Still, the markets do seem to be telling us a couple of things:
1. The world looks a lot more like the way it’s viewed by the Krugman/Thoma/DeLong axis (hey, I like it) than as viewed by, say, the WSJ editorial page.
2. Policy makers have been worrying about the wrong things, obsessing over deficits when the real problem was lack of growth.
There are intimations that this could turn out to be more than a mere market plunge; European stresses are starting to make some nasty financial ripples that suggest a possible mini-Lehman event, although I think — I hope — governments and central banks will head this off. But if you had any doubts that we were on the wrong track, this should resolve them.
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