When Your Psych Test Says You Shouldn't Be Around People - 6/27/2012
Here's what we're following this morning:
David Rosenberg opens Pandora's global economic shock-box - Bloomberg TV via Zero Hedge | He talks about what's hitting the European markets right now: the big countries can't fund their budgets and they're unable to fund their budgets all at the same time -- they're too big to fail and too big to rescue simultaneously.
The coming Internet-based global war - Counterpunch | True security experts really never install the Norton or Symantec products on their desktops. Why? They believe that any code worth its salt is already going to be able to outwit the off-the-shelf products that you're buying at CDW. The thing is, your desktop is one thing...but, sorry, no one really wants to see your pictures. A nuclear reactor or the electrical grid? These are the real targets.
An interactive map of the dark-money universe - Mother Jones | If "Citizens United" was the Big Bang of a new era of money in politics, what you're about to see is the universe it formed. Still think that democracy works for the Commoner?
LIBOR can be whatever you want it to be - Dealbreaker | No structural changes will (ever) be proposed because any substantial changes could affect existing contracts that reference LIBOR. If LIBOR once represented the unsecured borrowing costs of prime banks...and then, all of a suddent, it doesn't...then that's a good reason for contract entities to be upset. Once again, another example of a product that works in good times but breaks down when the market doesn't always move to the upper right of your screen.
The source of Obama's power to trick us comes from our willingness to be tricked - Naked Capitalism | "Everyone in the room knew that Obama wasn't actually angry about the AIG bonuses, and never intended to do anything about it. The House would pass bills, which would die in the Senate. The only people angry were Americans at large, who could not believe that their government worked for Wall Street." Since when do Americans at large matter, right?
A warning on the healthcare ruling - Financial Times | Since when does a sitting president (who supposedly is a Constitutional scholar) believe that it's appropriate to issue any warning at all to the Supreme Court?
Nukes ready to fly: an infographic about the nuclear weapons around the world - National Post | Every country has different ways of tallying their arsenals -- that is, a weapon may be listed as decommissioned and not tallied...but it could very easily be made viable once more.
The banking system and money creation - Jesse's Cafe Americain | For whatever reason, the credit creation process may fail and the banks become unable to generate credit sufficient to serve the needs ot the real economy. In a financial collapse as the result of a financial bubble, an entire banking system might be brought low by some natural disaster or the deterioration of assets based on some chronic mispricing of risk. Think 2008, and think 20[whatever we face in the next few years].
The EU summit for tomorrow and Friday is already a bust - Testosterone Pit | Remember: these are the "leaders" who supposedly have the ability to get us out of this mess. In the end, they're only human, and humans have been known to disappoint.
80 Teddy Ruxpins with robot voices tell you how the Internet feels - Boing Boing | Nightmare fuel.