Wordsworth to the Rescue

Merkel says Multiculturalism has failed totally

Germany and the Failure of Multiculturalism is republished with permission of STRATFOR.

Quo Vadis Ray Ozzie?

Article from ZD Net


Ray Ozzie's Blog

1999 Nobel Laureate Robert Mundell on Bloomberg

Expert on the world monetary system gives advice.

His Nobel Lecture is available here.

Geithner on China

Nuanced.

Steven Segal's Wu Wei

You gotta love it.

Wu Wei Trading is not a Black Box

Natural skill. Something to think about, or possibly, something not to think about.

Stephen Green--Good Value

Read this book if you get a chance.

He is an Episcopal priest who is also chairman of HSBC, (formerly known as Hong Kong Shanghai Banking Corporation).
http://en.wikipedia.org/wiki/HSBC

He begins his book with a quote from T.S. Eliot's Four Quartets, likes Tielhard de Chardin's Phenomenology of Man better than Thomas Friedman's The World Is Flat. He studied politics, economics and philosophy at Oxford. Later he got a masters degree at MIT. He is very literate and a good writer. In January 2011, he will leave his HSBC duties to become the UK's Minister of State for Trade and Investment--at no pay.


http://en.wikipedia.org/wiki/Stephen_Green_(banker)

Weekend Entertainment

Be Water, My Friend ---Bruce Lee

Jung's Wisdom

Part of man is beyond space and time. Look forward to the adventure.

Have a Relaxing Weekend

Nice water features at this botanical garden.

Letting off Steam on a Friday

Jan Hatzius, Chief Economist at Goldman Sachs

Here is a link to a video interview. Hatzius is one of the powers that be.

http://www.youtube.com/watch?v=tbduexTH_V8

Deficit hysteria will kill Europe « Political Economy 101

Deficit hysteria will kill Europe « Political Economy 101

Parenteau's 2006 Paper at Levy Institute and 2010 article on Financial Balances

In hindsight, this paper would have been good to read in 2006. His advice is pretty expensive (only $497 a year) these days at www.richebacher.com

Parenteau's 2006 Levy Institute Paper (short version)



Moving closer to present time, here is a March 2010 article by Mr. Parenteau wherein he discusses the three sector financial balances approach. I find this conceptual framework important, possibly essential to understanding international economics. I hope you enjoy reading it, too.



http://www.nakedcapitalism.com/2010/03/parenteau-on-fiscal-correctness-and-animal-sacrifices-leading-the-piigs-to-slaughter-part-1.html

Balance Sheet Recession Explained

This is also an introduction to Rob Parenteau.

Volatility Futures & Options

Essentially retweeting this from Only VIX blog. Interesting link.

Volatility Futures & Options

Read What Congress Should Be Reading This Weekend

What did Treas Sec Geithner say about China exchange rates, etc.

Report to Congress on International Economic and Exchange Rate Policies

On Fortune's cap we are not the very button. --Shakespeare

CAD: Another Blowout Employment Number | Kathy Lien | FX360.com

The good news on the Canadian job front supports the recent IMF forecast of the continuing global recovery. Which way is Fortune's wheel turning?

IMF Survey Magazine from July 8

Five Year Crude Chart and CRB Chart

Below is a link to the CRB Index chart for 5 years.

http://www.barchart.com/chart.php?sym=%24CRB&style=technical&p=WO&d=X&sd=&ed=&size=M&log=0&t=CANDLE&v=0&g=1&evnt=1&late=1&po=1&o1=%24WTIC&a1=on&o2=&o3=&x=35&y=12&indicators=&addindicator=&submitted=1&fpage=&txtDate=#jump


Here is a link to the Federal Reserve's statement regarding M3 issued March 9, 2006


http://www.federalreserve.gov/releases/h6/discm3.htm


What James Turk says appears in a blog

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/7/8_James_Turk_-_Threat_To_The_US_Dollar.html

His concern about M3 no longer being reported is that it makes it hard to compare the numbers to those of the early 1930s. He further complains that Eurodollars, a major M3 component, is particularly difficult to model. While this may be true, it is not relevant to the 1930s because at that time there were no Eurodollars. So how would this number be helpful?

His statistical evidence for inflation is misleading, if not false. Please compare his statements about oil prices and CRB Index with the historical information in the charts above. He fails to mention that oil prices are about 50% lower today than they were at their height, a few months before he started his comparison.

James Turk, founder of goldmoney.com, may be a good gold and silver salesman, but his statistical arguments are not cogent.

HARPEX Container Freight Index

HARPEX Container Freight Index

Despite a 30 day decline in the Baltic Dry Index, the container freight index is rising.

Collin Twiggs had this to say about the rising container index and steel prices today

"This leads me to believe that steel (?) (iron ore and coal?) stockpiled during the worst of the financial crisis is now being used for production, resulting in a down-turn in imports without a corresponding fall in manufactured exports — which remain in a healthy up-trend."

Gmail - Trading Diary: Commodity Exports Fall While Manufactured Exports Rise - jubjub59@gmail.com

Gmail - Trading Diary: Commodity Exports Fall While Manufactured Exports Rise - jubjub59@gmail.com

Search for meaning

I like these video clips of Viktor Frankl.

http://www.youtube.com/watch?v=fD1512_XJEw

http://www.youtube.com/watch?v=v0GWA7xzCa8&NR=1

Economics

A nameless razor fusses.

Today the minutes from the Federal Reserve’s last monetary policy meeting confirmed that central bank officials are in no rush to tighten monetary policy and raise interest rates. According to minutes, central bank officials believe that the economy is moving in the right direction with economic activity expanding at a moderate pace in early 2010.