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July 18th, 2010 at 10:45 pm
Weekend Reading:
More evidence that it’s the end of the world as we know it: 5 Second Rule Repealed!
On the bright side: No more shots.
Somebody bought 241,000 tonnes of cocoa futures for about $1Bn on Friday: Analysts said it was very unlikely that a chocolate company, such as Nestle or Kraft, or even their suppliers, would buy such a huge order in one go and that is was probable that one or a number of speculators, possibly hedge funds, had attempted to corner the market. By doing this, they would have control of the entire supply in Europe, forcing the price yet higher. Eugen Weinberg, an analyst with Commerzbank, said: “For one buyer it would likely be a little bit too large. It would be a crazy number. That said, if you’re cornering the market … If it looks like cornering, feels like cornering and the price difference between Europe and the US is so large, it probably is cornering.”
Even brighter – Lightsabers are almost a reality with S3 Spyder Arctic: The Arctic emits a 445nm cool blue, ultra high power 1W beam which appears up to 4000% brighter than the Sonar’s 405nm violet beam. This direct blue laser diode is the result of the evolution of laser technology. Less than one year ago, this laser would have cost thousands of dollars to build. Don’t let the Arctic name fool you, this laser possesses the most burning capabilities of any portable laser in existence. That’s why it’s also the most dangerous laser ever created. In recognizing and mastering the power of direct blue diodes, the Wicked Lasers’ Arctic shall become the standard by which all other blue lasers are judged. The girls are going to love this for Christmas!
Hedges – I’m still not buying the sell-off so it’s very hard for me to come up with new disaster plays I don’t believe in.
Very revealing graphic. Of our $12.8Tn of official debt (not the unfunded liablilities), $8.89Tn is held domestically and BY A MILE, the largest holder of that debt is none other than our beloved Federal Rserve, who hold 61.2% of it. Now keep in mind that the Fed is NOT really a government agency, it is a private corporation under a government mandate but effectively works on behalf of the banks. So if Ron Paul really wants to "End the Fed" – let’s just not pay them!
Great article on wages and the economy: We’re back to the same ominous trend as before the Great Recession: a larger and larger share of total income going to the very top while the vast middle class continues to lose ground. And as long as this trend continues, we can’t get out of the shadow of the Great Recession. When most of the gains from economic growth go to a small sliver of Americans at the top, the rest don’t have enough purchasing power to buy what the economy is capable of producing.