- In case you missed it, the Dow was down 3.3% this week. It would take about 38 years to recover that at today’s money market interest rates. Oh, I don’t really know how long it would take. And I’m not going to do the math. But it would be a while.
- Does the Fed need to raise rates? Fed Reserve Bank of Kansas City President Thomas Hoenig (not pictured) thinks so. "We need to get off of the emergency rate of zero, move rates up slowly and deliberately," which will bring policy in better alignment "with the economy's slow, deliberate recovery," the official said. While the markets may like the current stance of monetary policy, Hoenig said "I wish free money was really free and that there was a painless way to move from severe recession and high leverage to robust and sustainable economic growth, but there is no short cut."
- Sure. Raise interest rates, raise taxes, and cut government spending. Well, a good idea in an economic boom anyway. I wonder what country this “Kansas City” is in. Must be good times there.
- Shania Twain the next American Idol judge?
- Oh noes, run for the hills! Oracle wields Java as a weapon!
- If you’ve ever programmed in Java, and I’m looking at you Shania Twain, it’s not a bad weapon of mass destruction. I don’t really like it. I guess it gets the job done.
- Me? I’m going to a Miami Dolphins pre-season game party! Now that ought to be interesting for about seven minutes. I don’t yet have a Chad Henne jersey. But everyone will be so impressed when I do! (bah).
- President Obama backs the ground zero mosque. I’m all for protecting everyone’s rights and all, but to me this just seems in poor taste. It shouldn’t be against the law, but I’d think Muslim leaders would respect people’s feelings. This isn’t the kind of thing that brings people together. It’s a big thorn in the foot.