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Saturday, November 27, 2010

Friday, November 26, 2010

Really great Power Point presentation from the Fed of St. Louis President on QEII.

We are all about information here at this Blog (plus a little poking fun at life). Thanks to Dr. Rothman for sending this great PP show.

Tuesday, November 23, 2010

Martin Feldstein on QEII.

I have been thinking lately that QEII will just do what has already been done...generate another asset price/commodity bubble. If that is the case, then once again the Fed has become the problem and not the solution. I suppose a policy maker always wants to be seen to be doing something in times of crisis. But doing something is not always better than doing nothing, especially if it induces greater instability. And as Charles Calomiris pointed out last week, we are in recovery and not in crisis mode. Is $1 trillion really worth 20 basis points in the 10-year Treasury rate and a huge risk for a redux of That 70s Show?

Monday, November 22, 2010

Saturday, November 20, 2010

Today's lesson: Moral Hazard Irish style.

They say God created whiskey so the Irish don't rule the world. Well I dunno. But I do know when the Irish government guaranteed ALL the debts of ALL their large banks in our recent little world crisis, they sure set themselves up for a big headache. It should have been Irish crew cuts for all but the depositors. But the Irish are bailing everyone. Maybe there really is a pot o' gold at the end of the rainbow. For Ireland's sake I hope there is.

Thursday, November 11, 2010

Henninger is right.

More enlightenment.

Happy Veterans' Day!

The 11th hour of the 11th day of the 11th month...ended the First World War in 1918. That is what gave us Veterans' Day. So did the dude above Arch Duke Ferdinand. WWI is ghoulish and ghastly to reflect upon. A machine gun war with Civil war tactics. Mass wave assaults with no chance of success, poison gas, artillery shelling for days on end and trench warfare. I have read reports that some British soldiers were still assaulting German positions at 10:59 am on the last day. God help us. What a waste.

Wednesday, November 10, 2010

My loyal, faithful and trusty dog Misiu has passed away.

The greatest dog in the world has left me. My dog Misiu (Me-shoe), which is Polish for little teddy bear, has died from an insulnoma which is a tumor on her pancreas. This caused her insulin levels to soar and generated hypoglycemia. We controlled it for a while but the bigger the tumor got, the crazier went the insulin levels until we could no longer keep her blood sugar high enough to survive. I include two pictures of her. One with my other trusty companion, her half brother, Spanky who I lost a few years ago. They are hanging out in my 1971 Bronco that I restored. The other is her and I in a pheasant field in Indiana after a successful hunt. She was deadly for ducks and birds and the most loving creature ever in the house. Don't suppose I'll ever have another dog as great as she. It is a cruel thing that a hunter and his dog do not live the same lifetimes. Losing a hunting companion who would do anything you asked and do everything it could just for your approval and pleasure is worse than dying the death of a thousand stings. I include the video from Jimmy Stewart. The House of Parker is in deep mourning.