Commentary on having something to read, the irrational forces behind the market, France looks left, Japan’s looming ideological debate, sorting out America’s job data, and the long road ahead for the Liberal Party of Canada.

Where the best libraries can be sometimes found.

New York Review of Books -- The Bathroom Muse
If you are like me, you must always have something to read in the bathroom.

Excellent piece on how investment professionals who worry about being mavericks invest in herds creating huge market inefficiencies.

Pdf below -- My Sister's Pension Assets and Angency Problem

François Hollande looks like he will win.

Guardian -- French elections: Sauce Hollandaise
The first round of an election will take place on Sunday that has the capacity not only to change the face of politics in France but Europe too.

Something maybe stirring in Japan. (ed’s note – although we are skeptical that a 5 day visit is sufficient).

Financial Times -- A shrill debate in ‘the land of consensus’
A few days ago, a man named Koizumi stood up in the Japanese parliament to vote against a bill.

Three different employment pictures.

Financial Times -- America: A workforce on the wane
As unemployment returns from high recessionary levels, it is becoming clear that millions in the US have left the jobs market.

Time for radical thinking?

National Post -- Liberals fail to grasp direness of their situation, nearly a year after collapse
So that’s settled, then: Mark Carney will not be leaving the Bank of Canada, but will remain at his post, at the least to the end of his term. This will disappoint those who were hoping to lure him away to the Bank of England, but not half so much as it will disappoint those Liberals who were hoping he would come lead their party.