Pando

Tim Worstall

  1. Should a porn star be able to have a bank account?

    Whether a porn star should be able to have a bank account or not might rather depend upon your moral views. You might believe they are the very devil to be cast out from all society. You might think that because they are engaged in legal and consensual commerce then they enjoy exactly the same rights and liberties as everyone else under the law. You might, as a banker, decide that you'd rather not have their custom which is just fine. Or you might be the Department of Justice who looks at the law, says that it's perfectly legal for a porn star to have a bank account, but then decide to try and prevent their doing so anyway.

    By Tim Worstall , written on

    From the News desk

  2. A "Woo" not a "Woo hoo!" for the Supreme Court over patent trolls

    Half a cheer rather than the traditional three for the Supreme Court's recent decision about patent trolls. It offers judges the ability to force the trolls to pay for their behavior if they should so wish but doesn't actually force them to do so. It's therefore a step in the right direction but it's not a full solution yet. What they've done, in detail, is just define what the word "exceptional" means. I know, it seems fairly trivial, and the ruling's effectiveness will depend upon how many judges decide to use this clarification.

    By Tim Worstall , written on

    From the News desk

  3. Is the Silicon Valley Bubble back, or a bad thing if it is?

    Listed tech stocks seem to be deflating, although how long that's going to go on for is anyone's guess. But there's enough evidence that you can, if you so wish, argue that we're at the end of a bubble in tech valuations. Marc Andreessen* doesn't agree which is why he's still pumping money into the system. Noam Scheiber over at the New Republic has an interesting take on the whole argument, one that I find myself largely agreeing with.

    By Tim Worstall , written on

    From the News desk

  4. If Apple's stock split reduces the bid ask spread, then why isn't HFT good too?

    Here's a little puzzler for everyone. As people dig through the implications of Apple's stock split we've had a number of pieces trying to work out just why it's beneficial. At one level of theory it should make any damn difference, more shares in existence doesn't change the value of the overall company. Yet the markets note that it does change that value, so what gives?

    By Tim Worstall , written on

    From the News desk

  5. With all that cash, why is Apple borrowing to raise its dividend and buybacks?

    Given that Apple has some $150 billion cash or near equivalents on its balance sheet it seems a little odd, perverse even, that they'll then borrow to finance the extra stock buybacks and raised dividend that they've announced. But that is what they're doing, they're issuing another $17 billion in bonds to finance the shareholder giveaway in what the Wall Street Journal calls the "largest corporate-bond deal in history."

    By Tim Worstall , written on

    From the News desk

  6. Apparently founding a start up is the worst possible decision you can make

    If Felix Salmon is to be believed, founding a startup is sheer lunacy. Or at least the message he takes from Gideon Lewis-Kraus's "No Exit."

    By Tim Worstall , written on

    From the News desk

  7. So you thought food aid was about feeding the starving then, did you?

    Apparently food aid isn't about aiding those without food. Rather, it's all about subsidizing the Pentagon's budget: "The secondary reason for food aid is food," Rep. Duncan Hunter, the California Republican who introduced the bill, said in an interview Thursday. "The No. 1 reason is military readiness." There we have it, that's the reason for a bill that's just been passed by the House. Who gives a shit about the people dying of starvation in other countries when we could screw up the system to make sure that we've got plenty of things that go bang?

    By Tim Worstall , written on

    From the News desk

  8. Travis Kalanick is a sociopath and socialism and anarchism are on the same spectrum, apparently

    Seattle seems blessed with a new group of Uber haters who were out on the streets of that fair city on Saturday night allegedly "detaining" some ten cars and their passengers from the service. All of this is prompted by the assertion that Travis Kalanick is a sociopath, that Uber itself is evil, that the traditional taxi system must not be disrupted for fear that it will "completely destabilize and undermine African immigrant communities in Seattle" and, quite remarkably, that no one would desire to get shit-faced on a Saturday night if it weren't for the immiseration brought about by capitalism.

    By Tim Worstall , written on

    From the News desk

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