Lion prides form to win turf wars BBC
Bottoms up for winning artist The Sun
Sowell: Obama Will Lead to Sharia Matthew Yglesias. This is the political equivalent of a Weekly World News story, but at least the WWN folks were sufficiently in contact with reality to know they were making the stuff up. I imagined they all got high before their editorial meetings. So what’s Sowell’s excuse?
Pedestrians, cyclists among main road traffic crash victims World Health Organization (hat tip reader Michael T)
Japan: 2.3 Applicants for EVERY Job Opening EconomPic Data
FHFA’s Lockhart on CNBC Bruce Krasting
North Korea, the submerging market bet John Dizard, Financial Times
Banks and the financial crisis Linda Beale
Bernanke is a Total Failure Unsuited for Role as Fed Chairman Michael Shedlock
The evolution of the United States’ external balance sheet in the last decade (wonky) Brad Setser
Pushing on a string MarketWatch
Government Bails Out General Electric Jesse
BIS calls for global financial reforms Financial Times. This is a VERY harsh report, has gotten (so far) virtually no traction in the blogosphere or MSM. It’s also sensible and therefore will never get done.
Antidote du jour:
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For one brief moment, I thought that Yglesias, for the first time I am aware of, actually had a point–it didn't last long, as I quickly realized that, once again, something was being taken badly out of context.
Sowell's point on "sharia" was on the risk of Iran developing nuclear weapons and using them to impose its system on the world. That's a highly unlikely scenario, but not an impossible one; Japan, after all, is living in a capitalist democracy because the United States developed the nuclear bomb (which was precisely Sowell's point.)
The idea of Iran being able to use a nuclear bomb to impose it's system on the world is not highly unlikely, it is impossible. The US with vastly greater economic and military resources than Iran can ever pretend to have was able to extend their influence to Japan and S. Korea and that's about it.
Sowell is a bright guy but fanaticism negates intelligence ever time.