The revenge of Wen Jiabao. Interesting background on the battle between Wen and Bo. It’s hard to believe significant reform can come from within the aristocracy of the leadership, princelings, state-run enterprises and connected dealings, but that anyone is even talking about saving the people rather than the party is a big step. Hard to get too optimistic though since at best it sounds a lot like “change you can believe in.”
The latest P/E report from Ed Easterling at Crestmont Research. No matter how you slice it, valuations have a lot lower to go before the end of the secular bear market. It may sound mean but mean reversion doesn’t mean it stops at the mean.
Anonymous hacks UK government sites over surveillance. They were a little slow to get to that one. Tactics are somewhat puzzling too. DDoS are quick and easy to do but unless part of a multi-layered approach they’re just a temporary nuisance. Turning the tables and publishing personal information on the proponents would have more impact. Maybe that’s in the works and DDoS was a diversion. Time will tell.
In related news, hactivists have the best records/hack conversion rate. Saw the story a couple of weeks ago and forgot to post it. Interesting how rapidly the hactivist movement is growing. The whole Lulzsec episode got me thinking about potential cooperation between hactivists and governments, with law enforcement entirely off the agenda. There are very likely government operatives in every hacking group, allowing assistance and direction to be given while maintaining official deniability. When the Cablegate story broke the US was the only government complaining because he rest were too busy reading, so it wouldn’t be at all surprising if there were ongoing attempts to redirect priorities to areas of most interest to various governments.
Josh Brown really nails the real meaning of “Committed to protecting your privacy.” I’m proud to say I have no such commitment.