Janett and I are at the Stangers. Mark and Steffy went to see the new Pirates movie tonight and Kim's in Chicago with Ross celebrating their "anniversary". So it's just us and Malachy, except after an evening visit to the Elgin Rec Center for a little workout/playtime Steph and Mark went to the nine o'clock showing. We didn't come over to 8:30 and Malachy was already tucked in. I've beeen fighting this impulse to bang around in the kitchen snd wake him up. I think Janett suspects I'm capable of such a nefarious act and has been keeping a pretty close eye on me.
Janett and I went to Barnes and Noble and used a couple of gift cards I'd been carrying around to buy books. Janett got one on building web pages/sites. Looked pretty technical to me but with a user friendly format. She says she understands it. She's so smart.
I got a book about futures trading for idiots. I guess the "dummies" title was already in use. I haven't looked at it yet. I've been spending the quiet time to ponder the implications of the Spanish current account deficit - Spain, Italy, Greece, (and France? or even Ireland?) going off the Euro in a couple years. Also I've been thinking about the Chinese buying into the Blackstone Group, a hedge fund. The message is they want better returns than they've been getting buying Treasuries. They might also be playing mindgames with the Treasury. Like "What do you suppose would happen if we stopped buying US Government debt and just started buying stocks instead?" It kind of threw me for a loop because if the Chinese start investing their reserves in the stock market that would inflate stock prices beyond their already inflated prices. I mean it's the same issue I've been trying to come to grips with. When are the stock markets going to return to valuation based on discounted earnings rather than reflecting excess liquidity. The answer cant be never, can it?
PS Saturday morning, and I was just thinking about how the Chinese might be as wrong about buying US stocks as the Japanese were about buying US real estate in the 80's
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So this is what you were doing while I was reading.
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