Greece, as it turns out, was the Eurozone’s canary. The canary was resuscitated and a small rescue mechanism was set up to revive a further canary or two – but beyond this the warning was ignored. The miners kept on working. They convinced themselves that this was the canary’s problem.

You see credit derivatives expert and Danvillite Tim Backshall on CNBC and Bloomberg. I suppose if you ever saw him on a “mass-appeal” show like “Good Morning America”, it would be a sure sign of the apocalypse

The central banks of the developed world are printing money and are engaged in a very-low-interest-rate regime. What does that mean for emerging markets?

Nonetheless, when China’s imbalances matters is a subject of speculation. That the imbalances will be addressed by China voluntarily, or the markets forcibly, is not. China bulls have not factored this setup into their models.

“We have seen the stock market go up and the small-cap stock indexes go up even more.”

Really? Is it the third mandate of the Fed now to foster a rising stock market? I wonder what the Fed’s target for the S&P is for the end of the year? That would be an interesting bit of information. Are we going to target other asset classes?