Reason #1,325,462 You Should Be Reading the Dark Wraith

Because it’s probably the only place you’ll find nerdy economic types this witty:

Dark Wraith blogged...

[D]idn't you notice that the CNN article told us what bond prices DID on Wednesday (that's today) as a result of the CPI numbers? That article had a dateline that would not have been able to say what the bond market did for the day because the trading day hadn't started, yet! CNN was telling us that bond prices recovered as a result of the uneventful CPI numbers, and that's about what they should do (absent other issues that might come up through the day), but CNN couldn't report this as fact before it happens.

As I said, I need to upgrade to the market tickers that CNN uses.

The Dark Wraith prepares to know the road ahead.

Mr. Shakes blogged...

It looks as though someone at CNN is due the Nobel prize in Phyics.

It is especially worrying that South Korea have decided to reallocate some dollars. Of all the greenback gluttons I would have thought they were the most under our thumb.

Anonymous blogged...

No, I didn't note that. I have read or heard so many market summary news accounts over my life that I guess I've gotten inattentive. You are of course quite correct. It makes absolutely no sense for them to write a market summary news account before the trading day has even begun!

- oddjob

Dark Wraith blogged...

Good afternoon, Mr. Shakes, and welcome back to the Economic Policy Wonk Factory.

Given that South Korea has abandoned the good ol' Hew Hess of Hay (to do a bit of L'Il Abner), I should probably say something about South Korea's new daddy.

Yes, indeed, I certainly should.

Or I could let you tell me what's going on behind the little lady moving out of Uncle Sam's house of dollars.

Could it be Europe and that hunky euro strutting down the economic street of the 21st Century?

Could it be Japan and its older but tried-and-true yen?

Could it be China and the underappreciated, self-deprecating yuan?

Or... or... could it be... gasp... a... a... market basket of currencies?!

The ssssslut!

Say it ain't so.

The Dark Wraith awaits some speculation.

Mr. Shakes blogged...

I don't think it's the Yuan, or any of the other dollar pegged currencies (Yen included) that have set little Miss Korea's heart aflutter. If she is becoming nervous about her relationship with the dollar, then why would she pin her hopes on currencies that are equally out of equilibrium, only in the other direction?

No sir. My money's on Mr. Euro. He may not be as sexy as Uncle Sam, but he's a cosmopolitan young chap, loved by over 200 million thrifty Europeans.

In other words, he offers interest rates that actually give a positive real return, and is backed by a diverse array of powerful economies. As such, he represents the first real alternative to the dollar as a global currency since WWII, and has arrived just as the U.S. is busy spending the dollar into oblivion.

The Big Bad Euro is here to stay, and Miss. Korea won't be the last to fall for his manly charms. Why, I hear even Mother Russia has been eyeing the young blade with more than matronly affection.

If the stampede for the exits is not too quick, we may just about get out of this with a whole skin. But I ask myself - who wants to be last in a burning whore house?

Anonymous blogged...

Well no one wants to be last of course, but what do you do if you're the madam??

- oddjob

Mr. Shakes blogged...

lol. I dunno. Grab the money box and head for the hills?

Dark Wraith blogged...

And the sad part is that little Pryomaniac Georgie could have been kicked out by the American Electorate bouncer; but Georgie got to the good stuff anyway with his neo-con matches, and here we are, standing around cooking marshmellows on the front lawn.

Did anyone remember to grab the cat on the way out?

The Dark Wraith calls the fire department.

[Whaddaya MEAN, 'the number's been disconnected due to budget cuts'?!]

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