Financial Markets and Economy
31 years ago, Warren Buffett revealed the secret to investing and correctly predicted nobody would listen (Business Insider)
In May 1984, Warren Buffett laid out everything you need to know about his investing philosophy.
China P2P Industry ‘Basically’ a Scam, Billionaire Guo Says (Bloomberg)
Billionaire Guo Guangchang called China’s peer-to-peer lending industry “basically a scam,” arguing that players in the multi-billion dollar sector, troubled by collapses and frauds, lack the ability to price risk.
ECB's Draghi to meet German lawmakers on Sept 28 (Reuters)
European Central Bank President Mario Draghi will address a German parliamentary committee on Sept. 28 to discuss monetary policy, a spokeswoman for the bank said on Saturday.
Nominal Unit Labor Cost Growth in the 1970’s Versus Recently (Econo Speak)
Jeffrey Frankel reads some nonsense from Wilbur Ross so we don’t have to. Let me pick on one of Jeff’s points:
ECB Board Member Lashes Out At Central Banking: Ignore "Mathematical Models", Focus On Reality (Zero Hedge)
At first (literally the day the Fed announced QE1) it was just "tinfoil fringe blogs" who predicted the failure of the central bank's attempt to boost the economy by printing money, instead warning that all the Fed would do is unleash an unprecedented income and wealth divide that may culminate in civil war and hyperinflation.
The Myth Of ‘Morning In America’—–How The Public Debt Went From $1 Trillion to $35 Trillion in Four Decades, Part 1 (David Stockman's Contra Corner)
I have finished my book on the upheaval represented by the Trump candidacy and movement. It will be published soon, and is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition.
From zero to seventy (billion) (The Economist)
SEVERAL of America’s great industrialists built empires in Pittsburgh, including Andrew Carnegie, a steel magnate. Now the city is attracting the attention of a new, aspiring robber baron. Last year the ride-hailing firm Uber swooped down on a robotics research centre run by Carnegie Mellon University in search of autonomous-vehicle expertise.
Overwhelming Evidence that a Guaranteed Income Will Work (Nation of Change)
We’ll have to do something drastically different to employ people in the future. Our jobs are disappearing. The driverless vehicle is here, destined to eliminate millions of transport and taxi-driving positions. Car manufacturing is being done by 3-D printing.
There's a terrifying mall 'blight' threatening communities across America (Business Insider)
One in six American malls are expected to disappear in the next decade. That's scary news for many communities.
Visits to malls declined by 50% between 2010 and 2013, according to real estate research firm Cushman & Wakefield.
Why You Might Not Know What’s Going On at the G-20 Summit in Hangzhou (The Wall Street Journal)
China’s meticulous organization of this year’s Group of 20 summit extends to arrangements for the thousands of reporters covering the event, where coddling includes a well-equipped media center with strong wireless Internet, a gift bag, lavish buffets and even separate prayer nooks for men and women.
Sorry, Losers! How The Fed Has Screwed The Many To Protect The Few (Peak Prosperity)
By its actions, the Federal Reserve has selected a precious few winners and many, many losers. Sadly, you are highly likely to be one of the losers.
10 Reasons Countries Fall Apart (Farnam Street)
“States don’t fail overnight. The seeds of of their destruction are sown deep within their political institutions.”
Politics
Take Back the House, Democrats. Please. (NY Times)
Ithaca, N.Y. — RECENT polls put Hillary Clinton slightly ahead of Donald Trump in traditionally Republican states like Georgia and close even in South Carolina.
America’s ‘Most Prolific Conspiracy Theorist’ Reveals He’s Now Advising Donald Trump (Think Progress)
During his radio show on Wednesday, conspiracy theorist Alex Jones—Infowars proprietor, radio host, and the man the Southern Poverty Law Center describes as “certainly the most prolific conspiracy theorist in contemporary America”—said he advised Republican presidential nominee Donald Trump about how to avoid having the election stolen from him.
Public Uncertain, Divided Over America’s Place in the World (Pew Research Center)
The public views America’s role in the world with considerable apprehension and concern. In fact, most Americans say it would be better if the U.S. just dealt with its own problems and let other countries deal with their own problems as best they can.
Tensions Deepen Between Donald Trump and R.N.C. (NY Times)
The Republican National Committee had high hopes that Donald J. Trump would deliver a compassionate and measured speech about immigration on Wednesday, and prepared to lavish praise on the candidate on the party’s Twitter account.
Why Obama shouldn't expect much from the G20 (CNN)
Behind the forced smiles and obligatory handshakes that mark what could be President Barack Obama's final encounters with Recep Tayyip Erdogan and Vladimir Putin this Sunday at the G20 lurks one undeniably inconvenient reality: These days, more divides Russia and Turkey from the United States than unites them.
Venezuelan President Is Chased by Angry Protesters (NY Times)
President Nicolás Maduro was chased at a routine political event by a crowd of angry protesters banging on pots and yelling that they were hungry, just days after thousands of Venezuelans took to the streets to call for his ouster, local news media reported on Saturday.
G20 'honey trap' warning: Fears Prime Minister's officials will be seduced by Chinese spies and have hotel rooms bugged (The Telegraph)
Theresa May’s officials have been warned to avoid “honey traps” amid fears that the Prime Minister's team will be targeted by Chinese spies offering sex during the G20 summit.
Fox News Host Explains How Tweet Of Hillary In Blackface Actually Made A Really Good Point (Think Progress)
Pastor Mark Burns, a prominent surrogate for Donald Trump, said he believes his “intentions were honorable” when he posted a cartoon of Hillary Clinton in blackface to his Twitter account Monday afternoon.
As Obama Years Draw to Close, President and U.S. Seen Favorably in Europe and Asia (Pew Research Center)
As he nears the end of his presidency, Barack Obama continues to enjoy a broad degree of international popularity. A new Pew Research Center survey conducted in 10 European nations, four major Asia-Pacific countries, Canada and the United States finds that half or more of those polled in 15 of 16 countries express confidence in the American leader.
Technology
Your Next TV Might Roll Out of a Printer (Bloomberg)
Makers of electronics hoping to win over consumers with sharper, more vivid displays are turning to a screen technology called organic light-emitting diodes (OLEDs).
Amazon Taps $1 Billion Focus Group by Streaming Shows on Twitch (Bloomberg)
Amazon.com Inc. has discovered a new use for Twitch Interactive Inc., which it purchased two years ago for about $1 billion. Seeking feedback from Twitch’s highly engaged audience of 10 million daily users, Amazon streamed two original TV-show pilots produced by its own studios on the gaming website.
Researchers Envision Ultrathin, Flexible Circuit Boards (The Wall Street Journal)
SAN JOSE, Calif.—Silicon Valley is rethinking one of its least glamorous and most ubiquitous building blocks, the circuit board, in a bet that flexible, form-fitting alternatives could reshape electronics and spur more manufacturing in the U.S.
Venture Communism: How China Is Building a Start-Up Boom (NY Times)
In Dream Town, a collection of boxy office buildings on the gritty edge of this historic city, one tiny company is developing a portable 3-D printer. Another takes orders for traditional Chinese massages by smartphone.
Health and Life Sciences
"Half The Forms Of Life On Earth Will Be Gone By 2050" Biologist Warns Of "Climate Instability" (Zero Hedge)
Humanity should start saving nature and switch to 80 percent renewables by 2030, otherwise the Earth will keep losing species, and within 33 years around 800,000 forms of life will be gone, conservation biologist Reese Halter told RT’s News with Ed.
Life on the Home Planet
The World’s Biggest Carbon Emitters Officially Join The Paris Climate Deal (Think Progress)
On Saturday, the United States and China formally joined the Paris Agreement, a historic global pact to curb greenhouse gas pollution and build resilience to the damaging effects of climate change. The agreement sets a number of collective goals, such as limiting global warming below 2 degrees Celsius, and calls on countries to submit new and increasingly ambitious national targets every five years to reduce emissions.
Why We Need Moonshot Thinking in High School Education (Singularity Hub)
Take a moment and think back to when you were in kindergarten.
Activities like capturing tadpoles, making birdfeeders, and building forts filled school days with wonder and excitement
Flooding of Coast, Caused by Global Warming, Has Already Begun (NY Times)
Huge vertical rulers are sprouting beside low spots in the streets here, so people can judge if the tidal floods that increasingly inundate their roads are too deep to drive through.
No, the Internet Has Not Killed the Printed Book. Most People Still Prefer Them. (NY Times)
Even with Facebook, Netflix and other digital distractions increasingly vying for time, Americans’ appetite for reading books — the ones you actually hold in your hands — has not slowed in recent years, according to a study by the Pew Research Center.
Poor People Can’t Be Jailed For Not Being Able To Pay Bail, Justice Department Says (Think Progress)
Jailing people before they are tried in court because they can’t afford bail is unconstitutional, according to federal appeals court documents the Justice Department filed Thursday.
Hollywood’s Summertime Bombs Got a Lot More Disastrous This Year (Bloomberg)
Hollywood studios bet big on the summer of 2016, yet only a few winners emerged alongside several epic bombs.
Because of those big-budget disasters, which cost $100 million or more each, the movie industry’s peak season is a disappointment even though ticket sales were about equal to 2015’s haul.
Things You May Not Know About Mother Teresa (The Wall Street Journal)
Mother Teresa of Kolkata will be canonized on Sunday at The Vatican. Here are five things you may not have known about her.
Lion charges family in car, kid freaks out hilariously (Holy Kaw)
While you watch this video, pay close attention the kid. He warns everyone that the lion is interested in them, but they don’t listen. Then the poor guy freaks out as the lion charges.
