A Smackerel of Somethings

7. Brownies
22. Giraffes
24. Girls (see here for explanation)

Lots of news today, which I'll just have to link to because there's no time whatever to comment on it.

Milton Friedman died. He did a tremendous amount of good in the world, almost all of it with his amazing mind. We're poorer for his loss, except that his death will bring us more converts. Even in passing, he'll make us better off. How many people can you say that about?

The core CPI went up a piddly .1% this last month, which bond traders liked.

Then one of the Fed Governors opened his mouth and talked about how inflation was still a major concern. Bond traders disliked this even more than they liked the previous news.

In other words, the market is still being governed not by actual news, but by what everyone thinks the Fed will do. Remind me again why these guys do not have too much power?

Mortgage rates continue steady, relatively, in the 6.125-6.25% range for the 30-year. Better than June. Not as good as November '05.

And please pray for Olivia's mom.