Dear readers,
Am back from Alaska. Despite part of the trip being a fiasco, I recommend you go if you haven’t already. The people are very nice (it’s one of the few places in the US where communities still matter) and the sights really are spectacular. For instance, in one afternoon I had 68 humpback whale sightings (as in watched the same animal until it did the characteristic tail-in-air deep dive). There were so many whales that some of the other passengers got a bit blase.
Because I am in catch-up mode, posting may be lighter than normal for the next few days. Part of it is the result of being backed up on many fronts, but it is also due to having been in a news vacuum for a week plus. I come back to a war in Georgia, Fannie/Freddie dividend cuts, a big dollar rally and a conviction that inflation is not an issue. And that’s just the big headlines (and yes, I who never watch TV am also watching the Olympics).
If you want to help, e-mail me with links to fresh news stories and good commentary and analysis.
I also foolishly offered to send a certain pdf upon request (I learned the hard way never to do that again). If you asked while I was away, you will eventually get it. Please be patient.
I was very pleased with the quality, amount, and variety of posts from the guest bloggers, While many of you provided your usual thoughtful reactions, I was very disappointed to see that some of you made rude comments. These bloggers were kind enough to provide material for your edification and amusement while I was away rather than have this channel go dark for ten days. I was appalled to see how ungrateful some of you were.
Ed Wright, who was in charge when I was away, is under the impression that the proportion of ad hominem attacks in comments increased last week. He isn’t completely sure since he does not normally read comments closely, but if he is correct, I am going to start policing more aggressively. That means deleting posts that stoop to name-calling even if they also make a substantive argument. Vigorous debate and argument are valuable to all, while ad hominem strategies are lazy and mean-spirited.
Finally, antidotes du jour will return to their old place, as part of Links.








Welcome back Yves. I thought that it’s important to let you know that you were missed.
I was surprised at the venom and hostility of some of the comments toward your guests as well. While not the insightful financial posting that I’ve come to admire, your guests were full of delicious irony and acidic wit – something that trolls apparently do not handle well.
Apparently there are several trolls (possibly paid ones) lurking on your blog, and waiting to pounce. Congratulations on rattling their sense of the status quo, then