Moneyball, markets with a “Twist”, and other movies
For the time being, Americans are forgetting about baseball but will likely reemerge in October. The NBA just announced the cancellation of training camp and some preseason games, and the football season is well underway now. The fall TV season is in gear, and Dinner Topics gave you the rundown a few days ago so you know what’s worth sitting on your couch for. The weekend is still up for grabs, and here are a few more things you need to know that are being talked about around you. Don’t come to the party unprepared, so read up and read on!
The stock market took a big hit this past week after the Fed tried to stimulate the economy again by buying back about $400 billion in longer term Treasuries (by selling the same amount of short-term bonds) in the hopes of keeping interest rates low and entice more refinancing, more borrowing, and more spending in the economy. Of course, someone forgot to tell the Fed that until the banks ease lending requirements, low rates are irrelevant for the masses looking to refinance. As a result, the market looked at this tactic (known as Operation Twist as a nod to a similar tactic used in the ’60s) with little surprise but with acknowledgement that the Fed still believes the economy is in trouble, and continued problems with debt-ridden countries in Europe haven’t helped. The result? A falling stock market until it stabilized briefly on Friday.
The real Billy Beane
On the lighter side of the weekend is the cineplex, where the “non-baseball” baseball movie Moneyball opens starring Brad Pitt and Jonah Hill. Based on the book of the same name from Michael Lewis, the true story of Billy Beane (Pitt’s character) and his quest to even the playing field using statistical data to compete with larger market teams seemed like a tough sell for an entertaining night at the movies, but after several hiccups in trying to get the movie made, things must have gone right. Roger Ebert gave it four stars, and many other critics seem to be praising the film, co-written by Aaron Sorkin (The West Wing, A Few Good Men, Sports Night, The Social Network, etc.) who seems to have a knack for making dry subjects interesting on the screen.
Abduction, starring teen heart-throb Taylor Lautner, debuts Friday but wasn’t screened for critics. The very early returns are as expected for a movie now available for screening – critics are calling it one of the worst movies of the year, but the biggest critiques seem to be for the writing and not as much for Lautner’s performance.
Lastly, a family movie called Dolphin Tale debuts this weekend as well and is getting solid reviews. Based on a true story, the plot revolves around a dolphin getting a prosthetic tail, thanks to some help from a boy in need of some life affirming events himself. Some reviews peg it as “heartwarming” and “hokey.” See it and judge for yourself. If not, at least you will know what your niece is talking about when you hear something about a “tail-less” dolphin.
Read on:
Bloomberg.com - Fed’s ‘Operation Twist’ Fails to Convince Investors It Will Boost Growth
Freakonomics.com – Operation Twist 101
RottenTomatoes.com – Moneyball
RottenTomatoes.com – Abduction
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