Yup. Still Broken

NPD result for US video game sales came out yesterday. Not so hot.

Hardware sales were down 25% y/y. Software sales were down 15%, which was better than July if you're a second derivative geek but worse than expectations.

Microsoft should go ahead and buy Electronic Arts just to confuse/diffuse the dismal news flow.

edit: BofA Merrill just downgraded ERTS to sell.

****

We live in a short term world. That being said, the following is stupid:

Steve Pearlstein at the Washington Post writes today about the Aspen Institute's blue ribbon committee recommendations on combating short termism. Mouth full.

The gist is that the quest for short term profits hurts American business. Is it bad if some bank does something stupid at the end of the quarter in order to meet Wall Street expectations? Yes. The blue ribbon panel's solution? Raise taxes on short term traders. Not short term execs and managers. Short term traders and investors.

Come on.