Saturday Breakfast Links

Was out sort of late last night with a friend. Went to the Erie Cafe for steak. Then up early to do the Mike and G show.

The stock market had a pretty good week.

SPY Stock Chart by YCharts

Heard an interesting observation from a University of Chicago professor last night.  He is a classical economist, studied under Friedman.  He said he loves basketball because it resembles a free market.  Football is a centrally planned game.  The Bulls go again on Monday.

Nobel Prize recipient Robert Fogel out with a new book. Might be one of the most important ever.

10 states that are running out of pension money.  tip of the hat to Instapundit.

Why aren’t the unions picketing and protesting in Massachusetts?  They ended collective bargaining there in the Democratically controlled House.   More importantly, why is the main stream media ignoring it?  A friend from Germany remarked that they couldn’t understand why public sector employees needed to be unionized.  After all, they work for the government and it’s not going away.

Some facts about higher food prices.

The Berkshire Annual meeting is this weekend.  Wonder if they will give out any stock tips?  Seriously, I think it will be interesting to see what Warren Buffett will say.  While I disagree with his politics, I do think he is a really good CEO.

One hedgie pleads guilty to growing weed.  Must have been trying to bake in some extra return.

7 deadly sins of investments

Lots of people worry that we are “shipping manufacturing jobs overseas”.  In reality, world manufacturing has declined as a percent of world GDP.  Just not as important as it once was.

If you hate Big Oil, read this.  Exxon paid a million dollars an hour in taxes.  Effective corp tax rate of over 42%.

Don’t beat your sausage