Hot Links: Obliteration and Limitation

Stuff I’m Reading this Morning…

Knight saved with an amazingly dilutive convert.  But beggars can’t be choosers.  (CNBC)

A huge data deluge coming out of China this week – but investors may find themselves disappointed.  (Reuters)

Three things the Fed has learned about its own limitations.  (Alhambra)

The July rally has been all about large caps, small caps have been making lower highs.  (TBP)

The S&P 500 as a swamp: Most tortured market metaphor of all time or the Interloper is a genius. You decide!  (Interloper)

Romney’s not down with QE3 for the moment.  Huh.  Wonder why…  (Bloomberg)

Washington DC is kicking the rest of America’s ass.  One columnist wants us to believe it has something to do with education levels and their fruity little baseball team.  You know, as opposed to raping and plundering taxpayers, voters and entrepreneurs.  (NYT)

You can trace this fiscal cliff thing right back to W’s decision to enrich his pals rather than actually reform the tax code.  (BusinessWeek)

Finally: The ChessNWine backstory is told!  And it involves poker!  (iBankCoin)

Amazon’s same-day delivery initiative could obliterate newspaper advertising in many big markets.  (NiemanLab)

Hollywood’s stars to hit Harvey Weinstein’s CT mansion tonight for gala Obama fundraiser.  (Deadline)

Gunman who shot up the Sikh temple in Wisconsin has been identified, and he’s ex-Army.  (NYP)

If you had tickets to the Who’s canceled 1979 show in Providence, R.I., there’s a guy who’s ready to make it up to you.  (TIME)

Don’t miss my daily linkfest for financial advisors this morning! (WSJFA)