Daily linkage

August 26, 2009

(Reader note: it occurs to me that referring to my links as “lunchtime” links probably discriminates against readers on the West Coast and in Europe who aren’t operating on EST. I’m trying to think of another name. Would love to hear ideas from readers. Send me an e-mail or leave a comment)

newsfrom1930.com (ht Steve Keen) “a daily summary based upon my reading of the Wall Street Journal from the corresponding day in 1930.” Note that on August 24th 1930, the Dow made a new high for the year…

Tax Penalties and the health care bill (WSJ) “Under current law, taxpayers who lose an argument with the IRS can generally avoid penalties by showing they tried in good faith to comply with the tax law. In a broad range of circumstances, the health-care bill would change the law to impose strict liability penalties for income-tax underpayments, meaning that taxpayers will no longer have the luxury of making an honest mistake. The ability of even the IRS to waive penalties in sympathetic cases would be sharply curtailed.”

The case against Bernanke (FT) Morgan Stanley Asia’s chief isn’t happy about Bernanke’s renomination either. Oh yeah, Bernie Sanders agrees with us too!

A second case against Bernanke (Evans-Pritchard) “The thrust of [Bernanke's] academic writings is that the Depression was a “financial event” that could have been avoided if the Fed had flooded the economy with money (by bond purchases) to prevent a banking crash. This theory – half-Friedmanite – has merits. The Fed made horrible mistakes. But it neglects other causes of the slump: industrial over-capacity created by the 1920s bubble, so like today.”

Rakoff not satisfied (Reuters) This is not really a surprising move. At the hearing on August 10th, Rakoff said he wanted initial briefs filed on the 24th and then responses on the 9th. He’s now asked for those responses. A second hearing, if he wants to schedule it, will be announced after that.

Web-browsing makes workers more productive (University of Melbourne) So stop feeling guilty about reading these links! ;)

Downturn dims prospects even at top law schools (NYT) This fall, law students are competing for half as many openings at big firms as they were last year in what is shaping up to be the most wrenching job search season in over 50 years.

Dealer poll calls Cash 4 Clunkers a “nightmare” (autoblog) Gives you an idea of how well this program was managed by the administration…

China: Death row provides most organ donors (AP)

Farmers issue warning after fatal cow attacks (Reuters)

Chopper + Dust + Static Electricity (for my sis in the Air Force)

chopper

16 comments

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That’s rediculous Rolfe.

Everyone knows there are little kids on top of the helicopter swinging around a flashlight on the end of a rope.

It’s just time lapse photography… from the same stage as the “supposed” moon landing!

Posted by Andrew | Report as abusive

cool photo…

Posted by dvictr | Report as abusive

huge waste of money…

Posted by dvictr | Report as abusive

Since here on the ‘left’ coast I take lunch between 11 am and 2 pm you can call it anything you like. You won’t hurt my feelings and I’ll still read it.

Posted by Bruce | Report as abusive

its always lunchtime somewhere in the world

Posted by dvictr | Report as abusive

i read during lunch time

Posted by Lim | Report as abusive

Maybe I’m biased because I’m also on EDT, but I’d say that it’s your blog and your lunchtime – so anyone in other time zones can just get over it.

Posted by Rob Randhava | Report as abusive

…what about the Pacific, Oceania, Asia, Russia, Middle East, Africa ? You hurt our feelings.

‘Relative linkage’ ?
‘High Noon’?
‘How the West was Won’?
‘T-minus’
‘Derive time’ ?
‘Death row hour’ ?
‘Cow attack’ ?
‘Chopper, Dust & Static’

Posted by Hour glass | Report as abusive

You could call them “10 Minute Links”. It usually takes me about 10 minutes to scan them and read most of them cursorily.

Posted by Justin | Report as abusive

That’s a Chinook helicopter. I jumped out of one of those back in ’98 or so, it was like walking inside a school bus that had two HUGE jet engines on the sides. (You can see one of the engines there just under the rear rotor.)

They are, I believe, the fastest helicopters in current US Army inventory, unless the Army still has the old Hughes 500s around (the Magnum P.I. helicopter — gosh, I’m old).

Posted by Justin | Report as abusive

Web-browsing makes workers more productive (University of Melbourne) So stop feeling guilty about reading these links!

I don’t feel guilty. And I couldn’t care less if it makes me more productive.

Posted by fresno dan | Report as abusive

Hump Links

Posted by callistenes | Report as abusive

Aug.24, 1930 was a Sunday. The Dow didn’t do anything that day, let alone reach a new high for the year.

Posted by John Meyer | Report as abusive

That’s probably my fault John. The date of the paper was actually August 25th, a Monday. Perhaps it was published in the afternoon and was referring to that day’s trading.

But regardless of that particular, I think the spirit of the piece is correct. The Dow did recover significantly in 1930, only to fall again later.

Posted by Rolfe Winkler | Report as abusive

“Fed. Reserve seen continuing easy credit policy pursued since start of year. Some concern that increased reserve credit “will flow into speculative channels,” but this doesn’t seem to have happened much yet.” – news from 1930

Posted by dvictr | Report as abusive

It’s your lunchtime and your links. No need to get so politically correct about it. Just keep it the way it was.

Posted by mm | Report as abusive