Daily Reading on the Financial Markets: 11/21/12
Grumpy Old Accountants make the case that criminal liability needs to be restored to fight financial fraud. Is there anyone other than the SEC (and their future employers at big banks/investment houses) who disagrees? The problem isn’t primarily a matter of modern financial accounting, it’s one of corporate ethics – or the lack thereof, imho.
Cam Hui, Humble Student of the Markets, makes the case that there are some positive signs that a “Santa Claus” rally may be on deck for equities.
Taking the other side of the trade, the Short Side of Long uses a series of charts to make his case that a major topping pattern in equities is occurring.
This post from Charles Hugh Smith at Of Two Minds hits close to home as I’ve lost 40 pounds in the last 3 months. He discusses a the role of national obesity in the escalating costs of American healthcare. I think he breaks it down the components of America’s sick-cycle pretty well with the components below:
Tom Tomorrow posted a great comic a few days ago that captures the essence of modern American focus, and the utter apathy towards America’s highly unethical drone warfare tactics.