...is absolutely unprecedented volatility. I'm sure people with long-term options contracts are probably scrambling for a dark corner to hang themselves in right about now, or a roof to leap off from. I wouldn't want to attempt calling these markets right now.
Today, the fear isn't the banks, but rather impending recession. Stocks are sucking wind, gold is off over 25% from its highs a couple of months ago, but at least we'll have cheap gasoline... wholesale gasoline futures at the moment are around $1.61 a gallon (when you figure in taxes, we might be seeing gas below $2.40 before too long if they maintain those levels).
Beyond just that, the currency markets are completely going bananas. Remember all the apocalyptic talk about the weakening dollar? Here's some data for you; from the dollar's weakest performances just over three months ago:
The euro has gone from $1.60 to $1.28.
The pound sterling has gone from $2.01 (and a local strength of $2.10 a year ago) to $1.63.
The Canadian dollar has gone from $1.01 (and a local strength of $1.08 a year ago) to 80 cents.
The Norwegian krona has gone from 20 cents to 14 cents.
And, in the prime example of currency freefall, the Australian dollar slid from 98 cents to 67 cents.
Overall, that's a good sign; it's meaning that investors are, on balance, bullish about America's economic prospects going forward.
Even if we can't see it too well right now.
Wednesday, October 22, 2008
Thursday, October 9, 2008
South Park has it wrong...
...the Chinese are not plotting to actively destroy America from within. The converse, however, is not necessarily true.
How do I mean? Krispy Kreme is opening 35 stores in China. Hard to take over somebody when you have to waddle to catch up to them. :)
How do I mean? Krispy Kreme is opening 35 stores in China. Hard to take over somebody when you have to waddle to catch up to them. :)
Friday, September 19, 2008
Friday, September 12, 2008
Something I have noticed recently
As a grad student at Western Michigan University, I am bombarded from time to time with flyers for various organizations that people have taped/stapled/superglued/God-knows-what-elsed to the informational kiosks. Lately, they've been largely overrun by the "Barack Obama Campaign For Change" posters. Besides the obvious snark about them sounding like fundraising posters (when, in reality, it's basically telling students how to get involved, kinda like grassroots marching orders), one thing stuck out at me recently about them.
In the most recent series of flyers, they are encouraging voter registration (which, if recent polling is correct, is less advantageous to Obama than his campaign would like, although still a net benefit), and are doing so by showing various college-age students on the posters. Students of all races, creeds, colors... yet one thing stuck out to me.
Where were the white people?
Although some were a bit dicey to determine due to the posters being in black and white (fitting metaphor for the "post-racial" candidate, not to mention cheaper, a good thing for the high-burn-rate Obama campaign), for instance, a guy whom I couldn't tell if he was Sicilian or Puerto Rican, there wasn't a single person recognizable as Caucasian on any of the posters. Pretty much every other race (except maybe Native American, couldn't tell for sure on that one, either), but no white people.
For some reason, I am being reminded of the conversation between a white college co-ed and Malcolm X back in the 60s (one that Malcolm later regretted)... the girl asked the rabble-rouser-cum-social justice advocate what a white person sympathetic to the cause could do to help, and the response: "Nothing."
That's what I take away from it with the posters being seen in total, fair or not.
In the most recent series of flyers, they are encouraging voter registration (which, if recent polling is correct, is less advantageous to Obama than his campaign would like, although still a net benefit), and are doing so by showing various college-age students on the posters. Students of all races, creeds, colors... yet one thing stuck out to me.
Where were the white people?
Although some were a bit dicey to determine due to the posters being in black and white (fitting metaphor for the "post-racial" candidate, not to mention cheaper, a good thing for the high-burn-rate Obama campaign), for instance, a guy whom I couldn't tell if he was Sicilian or Puerto Rican, there wasn't a single person recognizable as Caucasian on any of the posters. Pretty much every other race (except maybe Native American, couldn't tell for sure on that one, either), but no white people.
For some reason, I am being reminded of the conversation between a white college co-ed and Malcolm X back in the 60s (one that Malcolm later regretted)... the girl asked the rabble-rouser-cum-social justice advocate what a white person sympathetic to the cause could do to help, and the response: "Nothing."
That's what I take away from it with the posters being seen in total, fair or not.
Friday, August 15, 2008
Tuesday, August 5, 2008
Oh, dear God...
China attempts The Fatal Conceit
You know, it must really be hard being the Chinese government right now. You go and tick off half the world through top-down command-and-control economic and military policy, have such a level of dereliction of human rights as a matter of course that Amnesty International contemplates regime change, have a cultural tradition that seems straight out of a Disney World exhibit, and yet somehow the international community puts you in charge of putting on one of the biggest shows in the world, the Summer Olympic Games.
And then the dark clouds roll in. What's a totalitarian state to do?
Of course -- Attempt to alter the weather!
With an army of civilian operators with particulate-matter-belching artillery, the Chinese government hopes to get the clouds to expend themselves before getting to Beijing, allowing the opening ceremonies to go off without a hitch. At least, that's the plan.
At this point, all it seems to be doing is proving the megalomania of the country's leaders.
You know, it must really be hard being the Chinese government right now. You go and tick off half the world through top-down command-and-control economic and military policy, have such a level of dereliction of human rights as a matter of course that Amnesty International contemplates regime change, have a cultural tradition that seems straight out of a Disney World exhibit, and yet somehow the international community puts you in charge of putting on one of the biggest shows in the world, the Summer Olympic Games.
And then the dark clouds roll in. What's a totalitarian state to do?
Of course -- Attempt to alter the weather!
With an army of civilian operators with particulate-matter-belching artillery, the Chinese government hopes to get the clouds to expend themselves before getting to Beijing, allowing the opening ceremonies to go off without a hitch. At least, that's the plan.
At this point, all it seems to be doing is proving the megalomania of the country's leaders.
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