Its pretty amusing — give it a few seconds to get going . . .
(3 million page views in 2 weeks is pretty good!)
It’s been a whole year since Uncle Jay has SUNG an entire episode, and here’s the reminder why! It’s the year-end review of the news, and maybe it’ll seem a little better with music.
12-22-08
Do not value money for any more nor any less than its worth; it is a good servant but a bad master. ~Alexandre Dumas fils, Camille, 1852
The US$ is at the high of the day vs the euro coincident with Greek CDS at the wides of the morning by 20 bps to 307 bps following the news this morning. This level is a 2 week high. In sympathy, CDS is wider in Spain, Portugal, Italy and Ireland. Bond yields are higher too and Greek stocks in particular closed down 3.4%. There is also an idiotic rumor out there that the Fed is again going to raise the discount rate after doing so a month ago. While they easily may but likely won't anytime soon, there is...
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January 4th, 2009 at 1:12 am
This is funny. Had never seen him before, so I looked at another one and it has a good explanation of fed policy towards the end:
http://www.youtube.com/watch?v=vly2aL-Hxac&feature=related