Archive - Dec 25, 2012 - Blog entry
It’s Potlatch Season—The Celebration Of All Things Material
Submitted by Econophile on 12/25/2012 17:11 -0500Is gift giving during Christmas and Hanukkah a wasteful practice by which we just crave status from friends and family? Is it a harmless, even joyful, practice to bestow goodwill and joy on the ones we love? Is it a giant commercial venture by which retailers encourage us to part with dollars in an orgy of gift giving by folks who ought to be guarding their earnings rather than spending? Is it a necessary part of our economy that drives production and wealth? Is it a religious act? Or is it a joyous celebration of the material, which, when you think about it, is a celebration of life.
Christmas Cheer
Submitted by Bruce Krasting on 12/25/2012 10:34 -0500Gravity took hold, and ass over teakettle she went.
MeRRY ZeRo HeDGe CHRiSTMaS!
Submitted by williambanzai7 on 12/25/2012 09:54 -0500On a long enough timeline, the number of presents under the tree drops to zero...
The Passion of Monti: A Christmas Story
Submitted by Marc To Market on 12/25/2012 07:59 -0500
The political dysfunction of the world's largest economy is epic. Even though Mr. Market is not forcing the US hand, the political class is intent on shooting itself in the foot. Yet the uncertainty over next year's marginal tax rates has not impacted the hiring process as the average monthly non-farm payroll growth has not diminished. Nor have investment plans been adversely impacted. Non-defense durable goods orders, excluding aircraft, a useful proxy for capital investment, rose 2.7% in November after posting a 3.2% increase in October.
Italy is not as fortunate. Its economy is contracting. Mr Market is likely to be less patient. Although Italy's net debt issuance in 2013 appears less than in 2012, there is little room for error.
Monti was looked upon as the savior of Italy after Berlusconi had undermined its gravitas on the world stage with his antics that are unbecoming of a man of his stature. Yet Monti took his role too seriously and not seriously enough.
