Linkfest Preview

Thursday, July 19, 2007 | 02:30 PM

Here's a quick preview of a few links that may show up in this coming weekend's fests:

What Could Topple Bulls' 'Wall of Worry'?: The stock market is again living up to one of Wall Street's oldest sayings. It is "climbing a wall of worry" -- rising to record heights despite deep worries that any one of several risks could send it tumbling. The "wall of worry" idea is that stocks can still flourish when people are nervous. Skeptics hold money on the sidelines. As their fears are alleviated, they put money into stocks, pushing the market higher. (WSJ)

• A lot could go wrong. And it may not feel like a day at the beach to most Americans. But for your average globetrotting Fortune 500 CEO, right now is about as good as it gets: The greatest economic boom ever (Fortune)

Global Markets, Local Risks: Interview with Ian Bremmer, President, Eurasia Group who says that Iran IS the most important political risks confronting investors today (Barron's)

How Costco Became the Anti-Wal-Mart With his ferocious attention to detail and price, Mr. Sinegal has made Costco the nation's leading warehouse retailer, with about half of the market, compared with 40 percent for the No. 2, Sam's Club. (NYT)

At Fed, Inflation Is Top Worry, Making Rate Cuts Unlikely (WSJ)

• A Pair of Bloomberg Fed pieces:

-Rising Food Prices May Give Bernanke, Central Bankers Heartburn:  The fastest increase in food-commodity prices in at least a decade has already led monetary authorities in England, Mexico, Chile and South Africa to lift borrowing costs. It is also sowing doubts about the U.S. Federal Reserve's focus on core inflation, which excludes food and energy, and about China's gradual approach to tightening credit

-Fed Isn't Boxed in by Open Windows or Dry Powder:  When Bernanke goes up to Capitol Hill this week to deliver the Fed's semi-annual monetary policy report to Congress, there will be no boxes, windows or powder to keep dry. There's also no reason to expect him to break with the message of recent central bank statements that inflation remains the predominant concern, even with the Fed's preferred price gauge slipping back into its implicit 1 to 2 percent comfort zone.

After an Analyst's 'Sell' Call, Nautilus Flexes Its Muscles:  Its amazing this crap still goes on . . . (WSJ)

Profit warnings at five-year high:  Profit warnings issued by UK-listed firms are at their highest level since the low point of the technology-led stock market crash in 2001 (BBC)

Russians Selling Off US Currency: New figures released by the Russian Central Bank indicate the amount of U.S. dollars held by private Russian citizens has dropped since 2002 from $35 billion to less than $12 billion as of July 1. (VOA) See also: Iran Asks Japan to Pay Yen for Oil, Start Immediately

Why we do what we do on eBay (CSM)   

50 Best Websites 2007 (Time)

Why I returned my iPhone   (Machinist/Salon)

Thursday, July 19, 2007 | 02:30 PM | Permalink | Comments (3) | TrackBack (0)
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With wages stagnating and the cost of food, shelter and gasoline rising, it seems to me we've got a pretty good shot at a recession. Why in the world would the Fed start raising rates in this environment? Their next move has to be down.

Posted by: Sweeny Texas | Jul 19, 2007 5:12:47 PM

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