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Five Things You Need to Know: We've Been Here Before... and We'll Be Here Again


Also, a look at what's at stake with the debt ceiling deadline approaching, the downside of dollar repatriation, and more.

As you can see, it's quite the dilemma. Of course, with social mood where it is, none of this is very surprising. Is it coincidental that we have simultaneous NFL and NBA lockouts, a government shutdown in Minnesota with other states poised to follow later this year? The question is whether social mood is too negative to allow for a compromise. Increasingly, the answer seems yes.

4. How We Transact... It's Going to Change

Money is a concept that's been with us for 5,000 years, and it's never been designed to be anything but a burden. You come into my coffee store and order a cappuccino, and I hit the Cappuccino button on the cash register and see that it's $3.24. And I take your credit card and type "$3.24″ into the credit card terminal. I swipe your card and give you the credit card receipt to sign. Then I take that back and staple it to the cash register receipt and give it back to you, along with your credit card. Then you take back the credit card and throw the receipts away. And meanwhile, at the end of the day I have no idea how many cappuccinos I sold because it's really difficult to access that information. It's completely useless."
-- Jack Dorsey, speaking in Wired, about his new company, Square, created to "shake up the credit card industry."

5. The New Influentials Revisited

The site director for Mindful Money, which earlier in the year published research about financial commentary, "Social Media: The New Influentials," has just launched a new site called Finance Blogs, an answer to all of the questions the company received from readers asking to recommend finance sites. They've listed over 380 sites, Minyanville among them, and opened it up for reader comments and voting. If you find Minyanville useful, please vote for us, and if you don't you can at least get recommendations for other sites to read.

Follow Kevin Depew on Twitter @kevindepew

No positions in stocks mentioned.

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