You're Lucky She Didn't Tell You what She REALLY Thought - 8/8/2012
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Here's what we're following this morning:
A primer to intra-day market moves - Tradestation via Zero Hedge | Fade the open, buy the dip, cover into Europe's close, hope. Wash, rinse, repeat.
Midwest hit by perfect gasoline storm - OilPrice | Pro tip: you don't want to hear industry analysts talk about "clusters of bad luck."
Wanna know the VP contenders? Use technology. - TechPresident | Palin's Wikipedia page was updated at least 68 times the DAY before McCain announced her selection.
Ever hear about Facebook's "dark profiles"? - The Washington Post | "The dark profiles were not to be visible to ordinary users...but if the person eventually signed up, Facebook would activate those latent links to other users."
US state budgets face challenges - Financial Times | The aggregate reserve balance will rise almost 18%. The problem is, more than half of the reserves are held by just two states.
While all eyes are on Europe, Japan circles a black hole - Charles Hugh Smith | "Safe haven." As in, "Japan will probably not continue to be a 'safe haven' forever."
Shadow banking is just like regular banking, only darker - Dealbreaker | If the market loses confidence in a repo borrower, and that repo borrower defaults, and the money market funds have to liquidate their collateral...well, that wouldn't be a good day for the money market funds.
The dark heart of the LIBOR scandal - Counterpunch | The amount of financial instruments pegged to LIBOR is approximately $800 trillion. There has been no accountability for the problems. Crooks are on both sides of the Atlantic Ocean and on both sides of the political aisle. Good thing we had the Olympics to take our minds off these trivial little issues.
The hunger wars in our future - TomDispatch | Weather is only the beginning. The ending begins (ha! pun! get it?) with rising food prices that lead to widespread social unrest and violent conflict.
Have archaeologists discovered lost Egyptian pyramids using Google Earth? - Archaeology News Network via io9 | Hopefully, this ends well.