CLOSING THE WEEK

Much the same thing today which is good because tomorrow I have what will hopefully be my final eye surgery it what has been  a near-year long saga.  As a result, I'm out of action until next week which works out fine if things stay in place until then.  Actually it works out fine even if things don't so who am I kidding.

It was interesting, however to see today Chrissie of the Fund expressing considerable concern at the state of things, particularly the state of the Emerging Markets, and inparticular the state of corporate credit quality.  Good call on her part because if this thing called the "global economy" doesn't start to perk up...well, you've heard me wax poetic on that before.  Right now the U.S. seems to be the only economy that is perking along, albeit at a pretty slow pace, but how long can that continue with no global support?  The Brits are doing OK as well but somehow I get the feeling that all is not well politically or socially with our brethren.

And speaking of them, Mark Carney the Canadian Governor of the Bank of England made quite a bit of press today with last night's speech on global climate change (or is it warming?).  Seems the dangers away out there are a financial concern as well.  Now Carney is a pretty smart guy but like so many others, he has reached a point in his career where he simply has to run his mouth in order to hear what kind of sound it makes.  The concern as to the credit worthiness of energy companies should--as he put it--"governments become serious as to greater fossil fuel restrictions," seems to me a bit of a waste of Mr. Carney's considerable intellectual resources inasmuch as I have seen nothing, even in the most extreme climate change supporting documentation that suggests that more than 30% of TODAY'S energy needs could be supplied by renewable resources in 50 years.  May I suggest, Mark, that governments are not about to turn the lights off on the future population of the world?  That idea is what up in Canada could elicit a response of DUH, eh?  I might, if I be thee, start worrying about the credit worthiness of a few institutions in our eon.  At a million nicker a year is that too much to ask?

Next Monday if all goes well.