- Got Storage? How Hard Can it Be? (Source)
- House of the Week: Mercer Island Estate (Source)
- Charles Mackay: Sucker? (Source)
- Rory Stewart · Because we weren’t there?: In Tripoli (Source)
- Defining Cities in a Metropolitan World (Source)
- Trader hinted at turmoil in Facebook posts (Source)
- Private company valuation traps (Source)
- Charles Mackay's own extraordinary popular delusions and the Railway – http://t.co/mzZJC9iX ->
- Irony alert: Black swan funds have done predictably well this year. http://t.co/gxrZi8Iz ->
- While the McGinnis book on Palin is getting bad reviews ( http://t.co/OadV9zFd), the Doonesbury take is amusing (http://t.co/pu0bDTIn ) ->
- The @BBGLink Bloomberg 50 event agenda tomorrow in NYC looks very good. Too bad I'm not in city. http://t.co/WlKklfb6 ->
If I borrow £1,000 from you and then, because of spectacular bad luck cannot pay it back, but I come to you and say, “here is £750, can we call it quits?” – that is a controlled default.
If I borrow £1,000 from you and you ring me up and you get directory inquiries in the Dominican Republic – that is an uncontrolled default.
Right now, Greece’s fate hangs in the balance somewhere between these two.
More here via BBC News – What might a Greek default look like?.
Best speed bluegrass ever. Or only. Whatever.
Kyle Bass from CNBC this morning on the euro:
- A Lehman like event is about to be unleashed on Europe without an effective TARP like structure in place http://t.co/U68KL9n ->
- Death is a rare booming market in aging, stagnant Japan – http://t.co/tUFQpEO ->
- Fire your adviser: Correlations to 1-ish http://t.co/ptOlA9q ->
- Greece Should ‘Default Big’ to Address Crisis – http://t.co/vm7eKBx #defaultbigorgohome ->
“It was at a meeting of the British Association in London in 1932 thatI remember that [Horace] Lamb remarked ‘I am an old man now, and when I die and go to Heaven there are two matters on which I hope for enlightenment. One is quantum electrodynamics, and the other is the turbulent motion of ﬂuids. And about the former I am really rather optimistic.”
– S. Goldstein, Fluid mechanics in the ﬁrst half of this century, Annual Rev. Fluid Mech., 1, 1–29 (1969)