"Our lives are full of things. Disposable distractions, stuff you buy but do not cherish, own yet never love. Thrown away in weeks rather then passed down for generations.
Perhaps things will be different now. Wiser choices made with greater care. After all, if the fewer things you own always excite you, would you really miss the many that never could?" (Emphasis mine, suspicious grammar and not-so-subtle allusions to the financial crisis in the original text)
This ode to a new world of "less is more", a world where conspicuous consumption and vulgar materialism are strongly rejected in favor of more, shall we say, durable values is, in fact, the new "A Diamond Is Forever" De Beers advertisement.
These guys are good.
Moving on, a fascinating article in this week's Barron's is making the unorthodox (for Barron's but not so much for anyone else) point that Ben Bernanke has been prevented by a "boneheaded" (not my words but those of former Fed vice-chairman Alan Blinder - as a cheap aside, with such a last name, you know Alan's got inner vision), free-market fundamentalist Hank Paulson from living up to his nickname, Helicopter Ben.
Therefore, the article goes on, once the much more interventionist and activist Tim Geithner and Larry Summers (the Master and his Pupil, not in that order, apparently) take over in earnest, we should expect a massive intervention by the Fed in the credit markets. In other words, we ain't seen nothing yet from Bernanke's Fed. To which I say "bring it on", it can only be good for stocks short-term and gold long-term. And good for diamonds, obviously.
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