Saturday, October 22, 2011

Oh, So True ...

Did you hear the story about the guy who lands his hot air balloon in the middle of a field after being blown off course?  A bearded guy in a tweed jacket and chinos with horn-rimmed glasses strolls over and says, "can I help you?"  The guy in the balloon shouts, "where am I?"  The bearded guy yells back, "apparently you are in a balloon, in the middle of what appears to be a field."  The guy in the balloon yells back, "you must be a PhD economist."  The bearded guy yells, "that's incredible, how did you know?"  And the balloonist answers: "Because what you just told me is both accurate - and useless!"

The Good News:  No snow in Calgary yet!
Update on Derivatives:  Estimates of the notional value of the worldwide derivatives market go from $600 trillion all the way up to $1.5 quadrillion. (Michael Snyder)