Week in Review

Quote of the week

“The protesters of the `occupy’ movement imagine themselves to be in the spirit of history’s great radicals — speaking truth to power and all that. As many have said, the movement seems blind to the real source of power in society, else they would be protesting government bureaucracies and the Federal Reserve.” –  Jeffrey A. Tucker

The Ticking Euro Bomb

by Spiegel Staff

“The Greek crisis has revealed why the euro is the world’s most dangerous currency. The euro was built on a foundation of debt and trickery, where economic principles were sacrificed to romantic political visions. The history of the common currency is the story of a good idea that turned into a tragedy of epic proportions.” more…

Policy Uncertainty Is Choking Recovery: Baker, Bloom and Davis

by Scott R. Baker, Nicholas Bloom and Steven J. Davis

“A major factor behind the weak recovery and gloomy outlook is a climate of policy-induced economic uncertainty. An index we devised (see attached chart) shows U.S. policy uncertainty at historically high levels.” more… [That, and perhaps unprecedented levels of debt?]

Cell Phone Guide for Occupy Wall Street Protesters (and Everyone Else)

by Eva Galperin

“Protesters of all political persuasions are increasingly documenting their protests — and encounters with the police — using electronic devices like cameras and cell phones. The following tips apply to protesters in the United States who are concerned about protecting their electronic devices when questioned, detained, or arrested by police. These are general guidelines; individuals with specific concerns should talk to an attorney.” more…


Other Stuff

And now the numbers…

DOW Jones Industrials – 11,644.49 (+731.11/6.70%)
S&P 500 – 1,224.58 (+93.16/8.23%)
VIX – 28.24 (-14.72/-34.26%)
CSI 300 (China) – 2,653.782 (+72.431/2.81%)
BSE 500 (India) – 6,567.08 (+181.32/2.84%)
MICEX (Russia) – 1,431.92 (+65.38/4.78%)
BOVESPA (Brazil) – 55,030.45 (+2,706.03/5.17%)
Nikkei 225 (Japan) – 8,747.96 (+47.67/0.55%)
RICI (Commodities) – 3,696.99 (+234.24/6.76%)
Oil/bbl (Brent) – 112.23 (+9.47/9.22%)
Corn/bu – 640.00 (+47.50/8.02%)
Wheat/bu (CBT) – 622.75 (+13.50/2.22%)
Rough Rice (CBOT) – 16.625 (+0.675/4.23%)
Copper/lb – 340.85 (+25.65/8.14%)
Gold/oz – 1,683.00 (+60.70/3.74%)
Silver/oz – 32.173 (+2.09/6.95%)
EUR-USD – 1.3882 (+0.0494/3.69%)
USD-JPY – 77.219 (+0.1565/0.20%)
USD-BRL – 1.7328 (-0.1466/-7.80%)
NZD-USD – 0.8054 (+0.044/5.78%)
3 Month Treasury – 0.01 (-0.01/-50.00%)
2 Year Treasury – 0.27 (+0.03/12.50%)
10 Year Treasury – 2.25 (+0.33/17.19%)
30 Year Treasury – 3.23 (+0.32/11.00%)
3 Month LIBOR – 0.40 (+0.03/8.11%)
U.S. Public Debt (official) – 14,873,884,337,800.00 (+178,782,229,600.00/1.22%)
Baltic Dry Index (BDIY:IND) – 2,173.00 (+274.00/14.43%)


Well, we got back from Albuquerque. It was a nice time. Saw a lot of family and friends. We got out to the balloon fiesta, which Little Bear absolutely loved. Got a ristra to bring home. Ate lots of good food. Was productive at work. Good stuff.

Then it was back home on the train, which was about 4 hours late getting out of Albuquerque. Then we delayed another hour before Lamy, NM. And before we knew it we were nearly eight hours late getting into Chicago. Needless to say we missed our connection to Ann Arbor, so we stayed in Chicago overnight, had breakfast and took the afternoon train home.

It was about noon when we got on the train leaving Chicago for Ann Arbor and early afternoon by the time we hit western Michigan. The sky was clear, but the afternoon sun was muted and there were abundant shadows across the landscape. The trees were anywhere from barren to green and every shade in between, bright red, pale yellow, lustrous orange. But seeing how they interleaved with farms, most of whose fields had already been harvested, and ponds and hills was something else entirely. The experience definitely made up for the late train the day before, and in fact I would highly recommend an autumn Amtrak ride from Chicago to at least as far as Kalamazoo.

Otherwise it was back to work this week, to the Liberty Breakfast this morning, and work tomorrow. Wonderful Wife is doing well and New Baby is due in about six weeks, so that’s super exciting.

Have a great weekend!

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