Unity and Division at the Olympics
Let the Games Begin (and the Bickering Continue)
On Friday, athletes and spectators from more than 200 countries will joyfully put aside their differences for the opening ceremony of the 2016 Rio Olympics. Who's not feeling the spirit of unity? Brazil's leaders, Mac Margolis notes, who aren't taking a break from their feuds amid a marathon corruption probe. Meanwhile, Adam Minter argues that China has more influence on the IOC than ever before, and that, surprisingly enough, it could become a powerful force for cleaning up the games.
Trump's Meaningless Vow on the Supreme Court
Conservatives who can't stand the GOP candidate should vote for him anyway, because the high court is on the line -- so says Hugh Hewitt and other Republican commentators. But while Trump has pledged to appoint justices with conservative credentials, Ramesh Ponnuru says there's no reason to believe him: Not only does he have a long record of lying, the few times he has taken an interest in constitutional issues, he has been on the liberal side.
Bitcoins Make Bank Robbery Great Again
It was an eventful week for Bitcoin holders, with the electronic currency plunging 20 percent (and making a partial rebound) after hackers stole $65 million from a Hong Kong-based exchange. Expect more heists, Megan McArdle says: Bitcoin exchanges are far more promising targets than brick-and-mortar vaults.
Insider Trading Isn't What You See in the Media
Forget "Wall Street" or "Billions"; insider trading isn't glamorous at all. Tyler Cowen points to new research showing how sordid and petty the practice really is -- and that provides troubling insight into the nature of trust.
America's Nuclear Arsenal Can Stand on Just Two Legs
The Obama administration's push to modernize America's aging nuclear arsenal has, on the whole, been a positive development. But sometimes you can have too much of a good thing. Such is the case with the Air Force's plan to spend $62 billion to develop new intercontinental ballistic missiles, the centerpiece of the land leg of the so-called nuclear triad. Tobin Harshaw argues that U.S.-based ICBMs are an obvious candidate for budgetary triage.
- The paradox of quant (Reformed Broker)
- A Swede returns to Silicon Valley from China (Traintracks)
- The case for more government and higher taxes (New York Times)
(Read Barry Ritholtz's full daily news roundup.)
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