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“Well, your question is actually something we asked ourselves,” said Draghi, and the young reporter blushed. “But the answer to this question is: would the truth be a risk?” he continued. Which translated from charming-Italian to ugly-American means, “We also asked ourselves, would it be better to lie?” You see, the reporter had asked Mario, whether he worried that by admitting Europe’s chronic decline in both inflat

Week-in-Review: Mon: UAE & Egypt airstrikes on Libyan Islamists, Israel surprise 25bp rate cut, Hollande purges cabinet over left wing revolt, German IFO business climate -1.7pts to 106.3, Spain PPI -0.4% yoy, US July new home sales -2.4%, Dallas Fed -5.6 pts to 7.1%, S&P +0.5%; Tue: Aussie Q2 construction -1.2% (3rd consecutive decline), South Africa Q2 GDP +0.6% (Q1 -0.6%), Ukraine captures Russian paratroo

Week-in-Review: Mon: China FDI -17% yoy (property prices fall -1.1% in 64/70 cities; 3rd mthly decline), Moody’s downgrades 4 South African banks, Kurds retake Mosul dam, Ukraine rebels receiving Russian heavy weaponry & armored vehicles, Russia widens Ruble trading band, UK Carney “economy more than halfway to full blown expansion – rate hikes could occur before wage inflation emerges,” Spain Jun exports -1.2% y

Week-in-Review: Mon: China CPI accelerates to 2.3% yoy (still well below 3.5% target), China PPI -0.9% yoy, Israel/Hamas 72hr ceasefire, Iraq nominates new Prime Minister (Maliki defiant), S&P +0.3%; Tue: Japan IP -3.3%, Aussie NAB 11 (prev 8), NATO “Russian invasion of Ukraine likely,” German ZEW Aug investor confidence 2012 lows with current situation index 44.3 (prev 61.8) and expectations index 8.6 (prev 27.1

“Market was looking for an excuse to show some cracks,” said Roadrunner, having somehow sensed this would happen, without knowing why. WHO declared Ebola an international health emergency, Chinese imports shrank 1.6%, Russian troops amassed on Ukraine’s border as Putin banned US & EU food imports, Israel and Hamas resumed fighting. And of course, Obama rejoined Islam’s civil war. “But this is a garden variety sel

Week-in-Review: Mon: China industrial profits +17.9% yoy (prev +8.9%), Carlos Slim calls for 3-day work-week, IMF “Sterling overvalued,” US accuses Russia of violating the 1987 Intermediate-Range Nuclear Forces Treaty, Dallas Fed index +1.3 to 12.7%, Jun pending home sales -1.1%, Fed’s Fisher editorial “Danger of too loose for too long,” S&P unch; Tue: Japan unemployment rate +0.2 to 3.7% (1st rise in1yr), Japan

“Is it right for you to be angry?” asked the Lord. And Jonah considered the question. Reflecting on his struggle. His defiance, his three days in the whale, his salvation, his journey to Nineveh, and his warning to its inhabitants. Who duly repented, changed their ways, and were shown god’s mercy. So why indeed was the prophet angered by their salvation? “I’m an extremely, extremely persistent person…extremely,” stut

“Economic sanctions tend to have a boomerang effect,” said the little dictator, standing on a stool. “And in this case they have driven Russian-American relations to a dead-end,” continued the megalomaniac, mixing metaphors. Because of course, boomerangs circle forever. And never dead-end. Unless of course you shoot them down. In which case, they rise from the ashes. Returning with a vengeance. To haunt you. Anyhow,

“If I could explain what happened in those six minutes, I would answer,” said Scolari, Brazil’s coach. “But I do not know.” Which isn’t exactly true. He knows what happened, he just doesn’t know why. No one ever really does. But the nice thing about sports is that the ‘why’ isn’t all that important, it’s the ‘what’ that matters. Brazil got demolished, that’s ‘what’ happened. Soon after, no one really cares ‘why.’ Gam

Oh thank god we lost. And no longer have to pretend. That we care about soccer. Or even know a single player’s name. Other than Tim Howard of course. A superhero. Who in that melting-pot, mixed-up sort of American way covers his body in tattoos, battles Tourette’s Syndrome, loves Jesus, wears his beard like a Jihadist, and deflects more incoming shots than the world’s latest self-proclaimed Caliph has middle names. I