Michael B. Duff

Lubbock's answer to a question no one asked

links for 2010-07-15

  • The Swiss intervention was a colossal error. While the policy was in place it distorted the market. It had the impact of slowing the weakness of the Euro against all currencies. That is how the crosses work. The SNB action had the impact of stabilizing the entire FX market. At least it did for a few months. Now that the Central Bank has had its hands tied the market can run free. No more risk that the SNB is going to muck up a good position. Having won this battle the market will be even bolder the next time an opportunity to lean on the cross occurs. That is just a matter of time. FX volatility is about to increase.
  • "For the people living on the Gulf, I'm certainly not going to guess their emotions," Wells said. "I hope they're encouraged there's no oil going into the Gulf of Mexico. But we have to be careful. Depending on what the test shows us, we may need to open this well back up."
    (tags: oil energy bp)
  • These are all so good, but this, this is my favorite.
  • The interstates paved the way for fast food chains such as McDonald’s, Burger King and Kentucky Fried Chicken, which set up shop near the access ramps. Besides changing the way that motorists eat, the new highways also transformed the ways in which companies moved their goods. One reason that Wal-Mart became a cost-cutting behemoth was because it exploited the logistical advantages of the new system faster than its competitors did.

Written by Michael B. Duff

July 15, 2010 at 23:02

Posted in Uncategorized

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