Mark Mitchell at Deep Capture on well-known hedge-fund “activist,” David Einhorn:
“In addition, Allied was not, as Einhorn claimed, a massive Ponzi scheme. Einhorn had made the smarmy suggestion that Allied was a Ponzi because it supposedly raised money from the markets to pay its dividends. An SEC official told the inspector general that this claim was patently false – it was perfectly obvious that Allied legitimately paid dividends out of earnings. Continue reading
Forbes on where richer than average households are moving within the USA, June 14, 2010:
No. 1: Collier County, Fla.
Arriving average income per capita: $76,161
Departing average income per capita: $26,128
Stationary household average income per capita: $49,959
Total arriving people: 15,150
Total departing people: 16,802
Top origin: Lee County, Fla. (2,987 people) Continue reading
In the upcoming edition of The Atlantic Nicholas Carr suggests that even Google’s biggest fans are finding the far too solicitous company’s latest technology, Google Suggest, more creepy than cuddly: Continue reading
Cinematical.com (via Greg at Our Holy Cause) has a synopsis of the underrated 1964 movie, “The Americanization of Emily,” with its ironic antiwar message: Continue reading
Humble Libertarian enjoys some unseemly lulz at the expense of revolutionary never-wasser Che Guevara:
“What a shame. All that time fighting capitalism only to end up making capitalists rich selling t-shirts of his face to ignorant, white, middle class, wannabes who wear his image with their name brand sneakers, designer jeans, and Axe body spray while sipping Starbuck’s Coffee. Karma is definitely real.”
Organizations and Markets has a brief bibliography of the evolution of accounting by the distinguished libertarian economic historian, Sudha Shenoy. Accounting emerged without state intervention as a type of Hayekian spontaneous order:
“Someone asked whether accounting conventions can be interpreted as a kind of “spontaneous order,” in Hayek’s sense, or if the standard rules are the result mainly of state intervention. Sudha replied with these reading suggestions (lightly edited by me): Continue reading
In the old days, people who did things for love of their community, for idealism, or for a cause they believed in, were in it just for that. They deserved the respect they got. Today, volunteer work has been festooned with all kinds of goodies, and, not unnaturally, it’s drawing people more interested in the goodies than the good. And not unexpectedly, the king of “doing well by doing good” – Goldman Sachs – is in the thick of it. Continue reading
So now we know the real reason for the Afghan war.. I wonder how long the Pentagon has had this information? BBC reports on June 14, 2010:
“Afghanistan may have more than a trillion dollars worth of untapped mineral deposits, a spokesman for the ministry of mines has suggested. The statement came after reports in the New York Times of the work of a team of Pentagon officials and US geologists. They discovered large quantities of iron and copper as well as valuable deposits of lithium. However, questions are being asked about the timing of the release of the latest information. Continue reading
Shock. Pakistani intelligence (the ISI) might be involved with the Taliban.
When the obvious is stated with all the fanfare of a papal decree from such organs of the ruling class as the London School of Economics and our own JFK School of Government (Harvard), can military action be far behind? File this along with my previous post, Mad Dog alerts.
The Associated Press reports (June 13, 2010):
“Pakistan’s main spy agency continues to arm and train the Taliban and is even represented on the group’s leadership council despite U.S. pressure to sever ties and billions in aid to combat the militants, said a research report released Sunday.
“The Obama Administration and senior BP officials are frantically working not to stop the world’s worst oil disaster, but to hide the true extent of the actual ecological catastrophe. Senior researchers tell us that the BP drilling hit one of the oil migration channels and that the leakage could continue for years unless decisive steps are undertaken, something that seems far from the present strategy.
In a recent discussion, Vladimir Kutcherov, Professor at the Royal Institute of Technology in Sweden and the Russian State University of Oil and Gas, predicted that the present oil spill flooding the Gulf Coast shores of the United States “could go on for years and years … many years.” [1]
According to Kutcherov, a leading specialist in the theory of abiogenic deep origin of petroleum, “What BP drilled into was what we call a ‘migration channel,’ a deep fault on which hydrocarbons generated in the depth of our planet migrate to the crust and are accumulated in rocks, something like Ghawar in Saudi Arabia.” [2] Ghawar, the world’s most prolific oilfield has been producing millions of barrels daily for almost 70 years with no end in sight. According to the abiotic science, Ghawar like all elephant and giant oil and gas deposits all over the world, is located on a migration channel similar to that in the oil-rich Gulf of Mexico. Continue reading