TGI ... T ?

Yes, since Friday is Independence Day and a major holiday in the US. I'm thinking about my BBQ plans: steaks (2" thick filets), Bunker beans, garlic bread, salad, apple pie, ale.

I have to take the Kelpies to a sheep herding class this morning. Sky continues to amaze his trainers - both say he's the best dog for his age they have every seen. He is now learning to respond to whistle commands, which is quite important since voices don't carry well in the wind and rain over 400 yards that can occur in a sheep herding trial. Sky has great "power" over the sheep - that is the ability to move even tough, hard sheep that have never seen dogs. Krypto continues to improve, too.

Markets

Yesterday afternoon was a fine example of beefer manipulations. On the day prior, stocks rose on real data about GM sales being better than expected. So the beefers get an analyst to pan GM late afternnon and simultaneously pump up oil prices while selling stock futures. And the computerized traders pile on. Sigh ...

Actually I think "they" were trolling for sell stops below the Dow "bear market" territory levels. One rule from my commodity trading days is that obvious levels for stops are almost always violated as local traders and trading funds seeking easy money from running the public's stop orders. Since the stock market is now dominated by trading funds, this behavior should not be surprising.

I am still working on my buy list. I made the money transfer this morning for a part of the new $$$, but the big new flow will be later in July. I have a few tentative buys in mind for Monday.

Inflation

Has anyone noticed that European stocks are being pummelled ? This morning - early - that is happening, too. This is a fine example of the effects of the ECB fighting the wrong war. They are expected to raise rates today to "fight inflation". Hmmm ... so they raise rates, which depresses the dollar, which in turn raises oil prices, which in turn raises headline Inflation ! D'uh !

I wonder why they think ECB interest rates can affect price increases in oil or food ? Of course, the ECB has no accountability to anyone, and even the EU itself is in tatters as the new treaty seems to be collapsing from a lack of public support.

PS: With existing economic weakness in southern Europe, I suspect major political crisis might occur if the ECB continues to be foolish and causes a recession in Europe ? With the EU already on the ropes, this is a concern.

Word of the Day

"Syncretism" - noun [$10]; "syncretize" - verb [$10]
Syncretism means 1. the combination of two different forms of belief or practice; 2. the fusion of two or more original different inflectionist forms.
Syncretize means to attempt to write and harmonize esp. without critical examination or logical unity.
Sentences: Bunkerman's political philosophy - populist libertarianism - is a practical syncretism of libertarianism, where freedom is maximized, with populism, where the ruling classes (aka rich and powerful) are restricted. Bunkerman syncretizes these two divergent philosophies into a whole by letting the populist component have just enough weight to prevent the ruling classes from creating a new aristocracy and harming the common man with their antics.