The Mess That Greenspan Made - Part 8

Planes, Trains, and Automobiles

All that Neal Page wants to do is to get home for Thanksgiving. His flight has been canceled due to bad weather so he decides on other means of transport.

As well as bad luck, Neal is blessed with the presence of Del Griffith, “Shower Curtain Ring Salesman” and all-around blabbermouth, who is never short of advice, conversation, or bad jokes.

And when he decides that he is going the same direction as Neal…

This morning, a brief departure from the normal fare is in order to recall the 1987 John Hughes classic Planes, Trains, and Automobiles starring Steve Martin and John Candy. Over the years, the viewing of this film on Thanksgiving eve has become a family tradition – this summary is provided to readers courtesy of IMDb and various fan sites.

Owen: I’m to drive you to Wichita to catch a train?
Del: Yeah, we’d appreciate it.
Owen: Train don’t run out of Wichita… unlessin’ you’re a hog or a cattle.
[Clears his throat]
Owen: People train runs out of Stubbville.

Cue the music – doooo, doooo, doooo.

(more…)

Police and the Use of Force

From this story at Vox comes the video below detailing the wide latitude that police have in the use of force in situations like the one in Ferguson, Missouri.

According to this item at the The Hollywood Reporter, recent developments have been a boon for CNN as people (like yours truly) who steer clear of the cable channel tune in at times like this for their 24-hour coverage (I can only take about 15 minutes at a time).

It really was pretty bizarre to watch the split-screen the other night when President Obama was addressing the nation as rioters were doing their thing.

Wednesday Morning Links

MUST READS
Protests spread across U.S. – Reuters
Russia fascinated by Ferguson riots … again – Washington Post
Darren Wilson to Grand Jury: ‘I Had to Kill Him’ – Vice News
How Grand Was The Ferguson Grand Jury? Some Perspectives – reason.com
Saudi Arabia sets their sights on US shale oil at crucial OPEC meeting – AFP
Ahead of OPEC meeting, crude oil sinks to another multi-year low – USA Today
Who Will Wind Up Holding the Bag in the Shale Gas Bubble? – Naked Capitalism
Schumer: Obamacare Focused On The Wrong Problem, Ignores Middle Class – Forbes
HSBC and Goldman sued for allegedly fixing metal price – BBC
HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says – Bloomberg
Bank culture ‘will take generation to change’, says report – BBC
ISIS, Broken in Iraq, Emerges in Saudi Arabia – Fiscal Times

MARKETS/INVESTING
World stocks rise as more US data on tap – AP
Tech Bubble Won’t Burst In 2015. 2016? – Bloomberg
Strong bull trend reaches uncharted territory – MarketWatch
Treasuries Retain Allure as Higher Yields Trump Economy – Bloomberg
Gold slips as European Central Bank stimulus talk benefits dollar – Reuters
Fears that ‘dangerous’ Switzerland referendum could spark gold rush – Guardian
Greenspan Is Thinking About Gold At The Right Time – Forbes
SGE figures – do they really equate to Chinese gold demand? – Mineweb
U.S. MINT: How Silver Eagles Are Made – SRSrocco Report
Gold stocks surge in massive volumes – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
America’s economy: How strong is it? – Economist
If Output Is Near Potential, Why Is Inflation so Low? – EconBrowser
Jean-Claude Juncker reveals giant EU investment plan – BBC
Europe feels sting in the tail of Russia sanctions – Bloomberg
O.E.C.D. Calls for Fiscal and Monetary Measures to Spur E.U. Growth – NY Times
ECB could start full-blown QE in early 2015: Constancio – MarketWatch
How have world shocks affected the UK economy? – voxeu
California Housing Market Cracks in Two, Top End Goes Crazy – Wolf Street
Household Debt Balances Increase as Deleveraging Period Concludes – NY Fed
Inside the New York Fed: What Critics Get Wrong – Fiscal Times

 

It Takes All Kinds

From The Atlantic comes this story of a man who, for many years, yearned to live in a tree house and then finally saw his dream fulfilled (including a permit from the city).

Also see this item from the Atlantic from a week or two ago about the tiny town(?) of Polebridge, MT, an area that we visited early last summer and may return to next year.

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