Lesson of the Day 1362

Ayahs of the Day:
And remember God's favor to you, and the divine compact in which God joined you when you said, "We hear and obey." And be conscious of God, for God knows what is in hearts. [5: 7]

Hadith of the Day:
Whoever builds a mosque for the sake of Allah, Allah will build for him a house in Paradise. [Muslim]

Wise Quote of the Day:
The ways to God are as many as there are created beings. But the shortest and easiest is to serve others, not to bother others, and to make others happy. [Abu Sa'id]  read more »

The Criminal Indictment That Could Finally Hit Spyware Makers Hard

The Criminal Indictment That Could Finally Hit Spyware Makers HardThe indictment this week of the man behind an app designed for surreptitiously monitoring cellphone activity is only the second federal case filed against someone involved in the commercial sale of so-called stalkingware. But the case could have negative implications for others who make and sell spyware and similar snooping tools, experts hope.  read more »

The $1,200 Machine That Lets Anyone Make a Metal Gun at Home

The $1,200 Machine That Lets Anyone Make a Metal Gun at HomeWhen Cody Wilson revealed the world’s first fully 3-D printed gun last year, he showed that the “maker” movement has enabled anyone to create a working, lethal firearm with a click in the privacy of his or her garage. Now he’s moved on to a new form of digital DIY gunsmithing. And this time the […]  read more »

Art Cashin on the Selloff

Art Cashin, Director of floor operations at the NYSE for UBS, talks about yesterday’s huge stock sell-off following Wednesday’s fresh record highs. As is the case for most pundits, Cashin offers no clear reason for the change in market sentiment.

Cashin notes: “Rumor-mongers are out and about so viewers should be careful … it’s clearly rather [...]

Friday Morning Links

MUST READS
The Secret Goldman Sachs Tapes – Bloomberg
Hungary suspends gas supplies to Ukraine – BBC
Ukraine prime minister says Russians ‘want us to freeze’ – Reuters
After selloff, stock market in search of stability – USA Today
Winners and losers from the dollar’s recent rally – CNBC
Alibaba options set for strong demand on market debut – Reuters
The solution [...]

Income Inequality Chart of the Year

Via this item from Pavlina Tcherneva comes the graphic below that goes a long way in explaining why there’s been so much fuss about growing income inequality.

Anyone with a good sense for statistics surely realizes the reason this data is so compelling is because it represents incremental change rather income data in absolute terms. It’d [...]

Thursday Morning Links

MUST READS
Big price swings return to Dow – USA Today
The Dollar Rally May Have a Long Way to Run – Barron’s
The Dollar Short, What and Where Now? – Alhambra Partners
US Dollar Breaks Through Overhead Resistance; Euro Sinks – Trader Dan
Forget The “Alibaba Top” – This Is The Chart Everyone Is Watching – Zero Hedge
Islamic State [...]

Keynesian vs. Austrian Economics

Here’s a pretty neat infographic from the Austrian Insider detailing the key differences between two very different schools of thought on economics – Keynesian and Austrian.

After working as an engineer for many years before even looking closely at this, I never understood the fixation on supporting aggregate demand regardless of how you got to the [...]