No wonder US consumers are in a grouchy mood: no recovery in incomes yet

We may have fallen back to 1996 levels, which felt good at the time, but how will we feel at 1886 levels?

Do FT headline writers read the articles?

On page 2 of the FT today one sees "Russia to curb defence spending." The article says the new budget proposes a 32% increase in defense spending in 2015 followed by a 5.3% decline from that level in 2016, which would still be 25% higher than today. (Russia is aiming to bring 70% of its armaments up to date by 2020.) The article also points out that while Russia had a budget surplus last year, it may have a slight deficit this year.

We can be pleased by how much better we in the west are doing.

Remember this date: IMF says China now the world's biggest economy

"I am PIIGS; hear me oink!"

There is a surprising degree of optimism in the sty these days. Ireland is doing great. Greece is expecting growth this year and next (0.6% and 2.5%), and the Spanish market is near the US PE with Spain's banks trading at premium valuations to US banks. What is the secret of their success? I suppose it must be austerity.

The unexamined life is not worth a billion dollars, according to the Economist

http://www.economist.com/news/business/21621778-business-leaders-would-benefit-studying-great-writers-philosopher-kings?fsrc=scn/tw_ec/philosopher_kings

Market Disses Dots. Who is dotty, the Mr. Market or Dr. Yellin? BCA's take on issue.

Stock futures rally despite Greenland crisis: Had it been factored in?

From today's Financial Times: