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:

Argentina Central Bank President ousted for "leaking sensitive information."

The information in question is that the government is planning to confiscate what is left of the people's money. This information deprives the authorities of the element of surprise.

“One of the last voices of reason of the current administration has departed,” Alejo Czerwonko, a New York-based strategist at UBS Wealth Management’s chief investment office, said in an e-mailed response to questions. “This development points towards further radicalization of monetary and fiscal policy in the country.”

Yellin's labor market dashboard is looking good. WIth China, Japan and the US perking up, why all the economic pessimism?

. . . except for the labor force participation rate.


The US, China and Japan, world's three biggest economies, are looking better. Question: why all the worry about world gdp growth?