I'M GETTING SCARIER

My really smart friend, Larry, rang up today.

"Well, it happened again."

"What?"

"You're banned in Turkey"

"What!"

"Furthermore, they've put a price on your head."

"What!"

"Yep, 10 Dinars dead or alive."

Larry is very smart. Funny he's not, but how 'bout that? First China, now Turkey. How good am I?

Not good enough, however, to make stuff up. Again, there aint much going on unless you want to worry about what's up with The Suit meeting with the Euros (especially M. Trichet) in Germany today. I am beginning to get the very uncomfortable idea that there is a bit more to this obvious disagreement regarding future (or present, for that matter) inflationary pressures than just a difference of opinion. I think this is getting personal which bodes well for no one. Unfortunately, it's just not the Euros who are a bit out of joint as it is well-known that our Chinese friends have become furious on more than one occasion at what they consider to be unwarranted criticism of their monetary policy from an unknowing standpoint. Once again today, M. Trichet made it very clear that he doesn't think very much of the U.S. view of the world and especially of the policies of our Federal Reserve. You might remember that Mr. Bernanke is from Princeton as is our great buddy, little Paulie Krugman. Do you know the Princetonian prayer?

"Dear Lord, please protect me from the sin of intellectual arrogance, which
for your information is defined as follows..."

Larry is a pretty good economist. He isn't from Princeton. Neither is M. Trichet.

Back tomorrow.