Tuesday 09NOV2010 0128GMT
There will be two posts today, with different emphases (is emphases even a word?). The next post will be more focused, but his one, well this one looks like being another ‘bits and pieces’ post. I keep finding good stuff around the net that I feel compelled to reiterate. Most of what pleases me is tinged with optimism and, dare I type it, bullishness … and whoops, again, my bias is showing. On the other hand the fact that I am finding much that pleases me may well be a contrary signal and its time to watch out below.
So, onto this ‘things that please me’ post, but, intially, lets get the bad stuff out of the way; time to let loose my inner curmudgeon and have a whinge about some of the stuff that passes quality control and makes it out into the world.
First, to one of my favourite blogs, Naked Capitalism and my whinge of the day. Get this, talking about the Swedish and US economies, and why Sweden has fared comparatively well:
but the comparison to Sweden seems really off. Most notably, Sweden cleaned up its banks. Second, Sweden depreciated its currency markedly
How do you read that bit about the Krona? It is confusing to me, I don’t get how “Sweden” depreciated its currency. The Krona is a floating currency (hair-splitters will note it is a ‘managed’ float … let me you, they all are to one degree or another), so “Sweden” didn’t do anything, the FX markets did. The market depreciated the currency. (Hair-splitters can respond with “Aha! (uttered in a triumphalist tone), but the Riksbank allowed it to depreciate!” Yeah, right, like standing in front of a speeding, fully-loaded, red-light running semi-trailer brandishing a leather-bound copy of the road rules is going to make much of a difference). Anyway, that’s my whinge, probably just nit-picking on my part, but I do get geeky when FX and monetary policy is being discussed.
Onto the good stuff.
Marc Chandler. He does analysis for BBH, some of what he writes makes it out into the world on the BBH website http://www.bbh.com/fx/ (I am sure BBH clients get more of his gems than are publicly released) and on the Credit Writedowns blog http://www.creditwritedowns.com/ . Nothing in particular to point to from Mr. Chandler, I am just enjoying reading his market-impact focused analysis.
I also like this from the FT:
Green shoots are piercing through the gloom
I have only quickly scanned the article, so it may well be not much chop, I don’t know. I just like anything that refers to ‘green shoots’ ’cause it sends the perma-bears into paroxysms of foaming-at-the-mouth rage, which is always good for a laugh.
TV shows about economic recession/depression!
TV is similar to the magazine cover indicator but it’s more delayed. The Depression shows are here. And this is great news.
Now for the real fun bit.
Check this out:
Sneaky Trick Football Play
During Saturday’s middle school championship game against rival Wynn Seale, the Driscoll Middle School team pulled off one of the best trick plays you’ll ever see. http://rivals.yahoo.com/highschool/blog/prep_rally/post/Video-The-middle-school-trick-play-that-gained-?urn=highschool-283434