Lunchtime Links 7-30
(send links, pics, vids to optionarmageddon at gmail)
Did Warren Burger create the health care mess (Slate) Interesting article. It claims a 1975 Supreme Court decision paved the way for medical entrepreneurship, which the author says has been detrimental. I’m sure in some cases it has been. But I scratch my head when I read this: “The idea that health care is a legitimate arena for investment is monstrous.” Investment in medicine is bad? An intriguing thought, not well enough explained.
Jeremy Grantham says to take profits (Marketwatch) The market has risen too far, too fast says the Bear who turned Bull when the S&P was down around 700.
Sorry Bud: Natty Light isn’t just for college anymore (Real Time Econ) We were partial to Busch Light in my fraternity. Sad to say I still prefer it to microbrews…
Weak Treasury auction raises worries (Reuters) The bond vigilantes are back! My colleague Chris Swann will have more to say on the topic later this afternoon.
In a savings shocker, government discovers paper has two sides (WSJ) And the Navy will save $5 million deleting dormant e-mail accounts. All of these budget savings (part of Obama’s $100 million challenge are “a rounding error of a rounding error.”
Thaler responds to Posner on consumer protection (PBS) Two U of C economists duke it out over consumer protection. I side with Thaler. The second to last paragraph is similar to the argument I made about markets needing rules. (ht Simon Johnson)
Hurrying into the next panic (Paul Wilmott) On the potential dangers of high frequency trading.
Stanford and sun? (Reuters) Accused $7 billion Ponzi schemer Allen Stanford is b**ching about his jail cell. There’s not A/C.
A journey through 40 powers of 10….(would love to see an updated version with better animation)