Posts filed under “Travel”

The Europeans Are Different Than Us . . .

I am back from my Northern European sojourn (at least I am — my luggage is a different story). It was an interesting trip, and I plan on taking all of my notes and cobbling together something coherent out of them.

In the meantime, a few observations regarding the macro circumstances.

• I was amazed at the impact of US culture everywhere, but especially Russia: TV, movies, music, fastfood –  knew it was here, but it was much larger than I expected.

• In each of the 4 countries I visited — Russia, Finland, Germany, Denmark — they think US taxes are incredibly cheap.

• My proprietary CDEM –  Cab Driver Economic Monitor — noted that the economy is generally slowing, and is softer than 1-2 years ago, but much better than the crisis period.

• White Nights, with the sun setting after midnight and rising a couple of hours later — is very disorienting.

• Each European nation is so very different that it is hard to see how the populace would ever agree to a political union (like the US) as opposed to a mere monetary union with a single mandate of Price Stability.

Tax complaints are universal: July 17th is when they start working for themselves — the first 6 and half months goes to their tax receivers, as they run about 55% taxes (plus a VAT).

• However, there is a general satisfaction with the broad social net even as they complain about high taxes. In a conversation with a Finn in Helsinki, I was told — “If you lower my taxes but I have to pay for school, health insurance and retirement, how am I better off?

• Europeans seem much more informed about the specifics of current affairs, and can discuss politics without degenerating into a partisan squall.

• The infrastructure is decades ahead of our big cities — massive public transportation, airports, public rest rooms, cleanliness, public parks, statues, fountains, art, even information booths — it all is very impressive to a first time visitor to these countries (I had been in Berlin prior)

• The history of the Russian people is one of misery and death. Tsars, wars, communism, more wars, now crime lords. Has any nation’s population been fucked over more than them?

• We may have been the only Americans on the flight back — the plane was filled with Germans, Danes, Swedes and Finns heading off to summer holiday — some to Vegas and California, most to NYC.  They have money to spend and the US is a big country that is relatively cheap (with no VAT tax).

• Nordic and Teutonic women are beautiful.

All told, it was a very interesting experience. The flight back was a bitch, but I find spending time in Europe is quite a fascinating compare & contrast to the US.

More on this later, including my thesis as to why Socialism is so natural in Europe and not the US . . .


Category: Economy, Travel

Spaceships Relative Sizes

Click to enlarge: ˜˜˜ Source: Supernova Condensate

Category: Travel, Weekend

Greek Tourism Feeling the Strain

Despite worries over the debt crisis, Greece drew a record number of tourists in 2011, but this weekend’s vital election could short circuit that growth.

June 14, 2012

Category: Travel, Video

65th CFA Conference


I will be spending the next few days appearing at and attending the 65th annual CFA conference in Chicago. (For those of you who know what happens when I travel, you have been warned!)

The conference site has lots of goodies: You can stream the event; see the full schedule; get bios of all the speakers.

My panel is this:

9:00-10:10 a.m.

World Debt Crisis: Endgame Scenarios and What They Could Mean for Investors and the World

Anatole Kaletsky, GaveKal
John F. Mauldin, Millennium Wave Investments
Barry L. Ritholtz, Fusion IQ
David Rosenberg, Gluskin Sheff + Associates Inc.

• How the effects of deleveraging will increasingly shape the economic environment and policy decisions
• What effects unforeseen outcomes and behind-the-scenes factors are having on the eurozone crisis
• How emotion and instinct can be our worst enemies in extreme market conditions


and I am definitely planning on seeing these:

Read More

Category: Markets, Psychology, Travel

Shawn Reeder: Yosemite Range of Light

Category: Travel, Weekend

Political Hacks, New Jersey Turnpike Edition

We interrupt our usual programming for this brief rant about some of the political hacks of the world: The intertubes are abuzz about this high moderate speed run of 30 hot cars down the New Jersey Turnpike to Atlantic City. (See e.g., N.J. State Police Investigating Sports-Car ‘Death Race’) and this NJTodayOnline video). The politicians…Read More

Category: Legal, Politics, Really, really bad calls, Travel

Riding the Booster (enhanced audio by Skywalker Sound)

From the upcoming Special Edition Ascent: Commemorating Space Shuttle DVD/BluRay a movie from the point of view of the Solid Rocket Booster with sound mixing and enhancement done by the folks at Skywalker Sound.

Courtesy of NASA KSC Weather Office

Category: Travel, Video

Bohemian Rhapsody Cosmopolitan Commercial

I know its manipulative viral marketing, but I just dont care — this is brilliant. > > I absolutely love this commercial!

Category: Music, Travel, Weekend

Cross Country Helicopter Time Lapse

John Iarussi recently documented a rare experience – relocating a small helicopter from Portland, OR to Tallahassee, FL.

It is strangely hypnotic to watch this trip of 3200 miles over 8 days condensed into a few minutes; America from 1000 feet.

Cross country delivery of a Schweizer 300C, from Portland, Oregon to Tallahassee, FL for Adapt Air

For more information on helicopter flight instruction, pre-buy consultation and aircraft transport, e-mail

Tools: Schweizer 300C helicopter, time lapse GoPro Hero

Category: Travel, Video

Heads Up: I am traveling all of next week

Those of you who have been blog readers for a long time know the uncanny correlation between my travel and market dislocations. The ugliest example was the flight back from Dallas to NY during the flash crash. Landed — hmmmm, down 300 — but had no idea what happened. January 2009, February 2011, August 2011…Read More

Category: Markets, Travel, UnScience