Sorry to be thin on posts today. Exhausted, and have to be up early tomorrow (today’s flight cancelled). Please check back tomorrow afternoon for more (and send good links too)
Oil Rises After OPEC President Calls for End to Overproduction Bloomberg. Now we know what the target is.
Sentiment Is Starting to Turn Michael Panzner
China buys, Norway sells Brad Setser
Thinking the Unthinkable: U.S. Default Paul Kedrosky
Antidote du jour:







FYI: When mothers lose a chick, they sometimes attempt to “steal” another mother’s chick, usually unsuccessfully as other females in the vicinity assist the defending mother in keeping her chick. In some species, such as Emperor Penguins, young penguins assemble in large groups called crèches.
This is a visual metaphor that uses the old lost money game, where one bank can sometimes misplace billions and billions, and then they try to steal another banks money, usually unsuccessfully, as other bankers connected to lobby groups that are connected to Treasury help to defend the mindless bankers that have used fraud and false and misleading information to abuse their fiduciary positions — used to strategically launch attacks against weak victims that have an inability to sniff out trouble or realize they are being preyed upon.
The End