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Let's check on how worried Argentina is about the predicted economic disaster and growth halt and...
...and the other wholly stupid predictions in the gringo press today:
Oh, stock market up 6.5% today, is it? Probably coincidence or something. And while we're at it...
...oh look, stock market up from 2,500 to 8,300 in the two years that Griesa and the vultures have been telling it about its "obligations".
If you're wondering why the English language press covering this stupidity haven't mentioned the way finances have been rocking in Argentina, that'd probably be something to do with agendas and narratives and how facts don't tend to fit into the things they want you to believe
Totally in line. FWIW* I had them doing $7.9m in op earnings from $41.6m in revenues. Reality has them at $7.2m op earnings from $42.4m revenues. The difference won't break the bank, a decent quarter and gold's moves will affect its share price this week more than this set of numbers. End.
Full disclosure: I own this one because Argonaut (AR.to) is going to buy it out.
We're going for a decent trek tomorrow, so up early, back late and nothing else on this blog until late evening minimum.
This'll be on the MP3 while walking at some point (though not Sayaka Shoji)
This is a good interview with Frank Bajak of AP, in which he informs on what's happening between Peru's government, its environmental protection laws and mining companies. Here's the header blurb from the click, click through and listen to the whole thing, you'll know more than most about the issue afterwards.
In December, the government of Peru will host the United Nations Climate Change Conference, but the country has a spotty record when it comes to environmental protection. Last month Peru passed a law that many critics say greatly weakens the power of the country's Ministry of Environment. The law takes away the Ministry’s ability to regulate air, soil and water quality standards and its ability to regulate harmful substances. The law also limits the Ministry’s ability to establish nature reserves and fine mining companies for accidents or spills. All of this is set against the backdrop of a long history of environmental problems in the country. In the past five years there have been oil spills in the jungle region, pipeline bursts that have made hundreds of people sick, and violent protests against mining companies that resulted in eight deaths in 2012.
Frank Bajak, chief of Andean News for the Associated Press, has been reporting from Lima on environmental issues in Peru for the last three years. He joins us to explain how the new legislation has weakened the position of the Ministry of Environment, even as Peru gets ready to host the United Nations Climate Change Conference.
Right here. Good note. Here's an extract that shows how Salmon gets it right when many get it wrong:
Like a drowning man grasping at a twig, the market reporter will reach for anything whatsoever, if it could help explain a change in bond prices.
Which in turn explains the single biggest howler, repeated ad nauseam in the coverage of this story — the patient and ubiquitous explanation that Argentina has every reason to avoid a default, because if it defaults, then it will lose access to international capital markets.
IKN272 has just been sent to subscribers. After several weeks of crappy editions, finally one worth reading.
The best book I've read this year is Brian Greene's 1999 publication 'The Elegant Universe'. Now (and that means literally this morning) I find out there was a three part documentary made by PBS in 2003 that was based on the book and hosted by the author. So here it is:
Once I have my weekend of work out the way I'll be watching this. Therefore I can't make a personal call on the quality of the TV show yet (though on quickly checking 3rd party reviews I strongly suspect it's great) but imho you should run and get yourself a copy of the book if you're into the subject of big-question physics/string theory for dummies/life the universe and everything, but haven't read it yet. Brilliant book.
Parts 2 and 3 run straight on from this part one, or should do at least. If not click here and get all three.