Morning Reads for Tuesday, October 13th, 2015

Georgia Tech was founded on this day in 1885. Remember to hug a nerd today.

  • Where to Stash Cannabis Cash? Tribal Nations Make Bid to Bank It (Bloomberg)
  • Former Fed chair Bernanke no longer a Republican because the GOP has “lost its economic mind” (US News)
  • Why Does This Watch Cost $815,000? (NYT)
  • Why Free Markets Make Fools of Us (NY Review of Books)
  • The Network Effect: Reid Hoffman, and LinkedIn’s Plan for World Domination (New Yorker)
  • The Decline of ‘Big Soda’: The drop in soda consumption represents the single largest change in the American diet in the last decade (The Upshot)
  • New Horizons Finds Blue Skies and Water Ice on Pluto (NASA)
  • What’s in a Boarding Pass Barcode? A Lot (Krebs on Security)
  • Taking on the Drug Profiteers: Martin Shkreli Is Not the Problem (New Yorker)
  • Why Donald Trump Will Always Be a “Short-Fingered Vulgarian” (Vanity Fair)
  • Why Comedians Love the Mets: From Jerry Seinfeld to Jon Stewart, the second fiddle of New York baseball could fill a dugout with A-List comics—ones who love to embrace suffering (WSJ)
  • Reel-to-reel tape is the new vinyl (The Verge)

11 comments

  1. saltycracker says:

    Stash cash at Indian casinos – brilliant. Thinking of The cash economy – Are there any reporting requirements to the Feds or state of on money held in Indian nation owned casinos ?

    • Noway says:

      I actually love the Indian Tribe idea. Marijuana shouldn’t be illegal in the first place. If they will take the cash, offer interest just like First Atlanta without the Oppressive Feds breathing over their shoulder, it’s a win for the pot sellers. Thumbs up!

  2. Dr. Monica Henson says:

    Native American compounds are sovereign nations. Unless they participate in a particular U.S. federal or state initiative (public education is a notable item), they are not required to make any reports. I grew up near the Eastern Band of Cherokee Qualla Boundary in western NC and my dad was a banker. Many of the tribe banked with him. They have their own court system, their own government, etc.

    • saltycracker says:

      We Should see an explosion of nations approving MJ to some level and a booming end around for tax avoidance and laundered money.

  3. xdog says:

    Iran’s parliament has endorsed the landmark nuclear deal that was struck earlier this year.

    “. . . Iran is expected to start work on rolling back its nuclear programme from 18 October . . . which includes taking out thousands of centrifuges at its enrichment facilities and pulling out its heavy-water reactor and filling it with concrete.”

    This is a good thing. Not perfect but good.

  4. saltycracker says:

    Bernanke could have pointed out that both parties have lost their economic mind. Fed spending in a downturn should have focused on rebuilding long lasting infrastructure not passing it out to first time home buyers, cash for clunkers and relaxed credit to get everyone in a home regardless or ,like a former crisis, driven by easy fed farm loans.

    The debt ceiling is about paying for commitments and raising it has both parties promising their followers a reward of govt spending more in their direction. Time to come up with better benchmarks. Like spending to revenue.

    Discussing free markets: capitalism is what has lifted the global economies. Adequate regulation becomes the challenge. The inability or unwillingness to properly regulate or to own rather than regulate entire industries is a mess. Everyone wants government largess along with a guarantee of success over freedom.

    • benevolus says:

      “Everyone wants government largess along with a guarantee of success over freedom.”

      I don’t see the world that way at all. Of course there are the scammers and grifters who will try and take advantage of any system they find themselves in, but I believe most people work and they mostly just want the chance to live a comfortable life in return for all that work, and be safe in that pursuit. If we can all chip in a few extra bucks so we can land a spacecraft on a comet now and then, that’s OK too.

      Most people want the kids’ schools to work right, the roads and bridges to be functional, and not have sick and dying homeless people strewn all over the place. They want to get something back for the taxes they pay.

      • saltycracker says:

        Then the majority needs to act accordingly as your last paragraph wishes. The world I live in shows little sign of seeking that balance.

  5. elfiii says:

    Yeah, the gold standard is “kooky” because under an actual reserve currency system the government can’t cheat it’s citizens via inflation.

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