Good morning. Even if this chart is somewhat misleading because the huge rise in US rate in 2007-???09 is left out, it still is a remarkable deviation???

(source: http://www.ritholtz.com/blog/2012/09/weekend-reads-35/)

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A very special thanks to those of you who attended the Best of the Web Clubdag. Nice one!

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Ah yes, Jackson Hole??? The markets opted for a positive interpretation of the speech of Bernanke, even though he kept his powder dry. Some links and one helicopter crash

?????????????????? http://www.kansascityfed.org/publications/research/escp/escp-2012.cfm

?????????????????? http://www.crossingwallstreet.com/archives/2012/08/bernanke-in-jackson-hole.html

?????????????????? http://blogs.wsj.com/economics/2012/09/01/jackson-hole-paper-monetary-policy-redistributes-wealth/

?????????????????? http://economix.blogs.nytimes.com/2012/08/31/a-critique-of-fed-policy/

?????????????????? http://krugman.blogs.nytimes.com/2012/08/31/bernanke-in-the-hole/

?????????????????? http://blogs.ft.com/money-supply/2012/08/31/jackson-hole-paper-3-woodford-on-the-zero-lower-bound/#axzz259CiJmUh

?????????????????? http://www.zerohedge.com/contributed/2012-08-31/breaking-news-j-hole-copter-crash

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And the China PMI???s come in soft, with the exception of the service PMI

?????????????????? http://www.zerohedge.com/news/china-manufacturing-pmi-lowest-march-2009-market-response-bad-good-so-far

?????????????????? http://www.bloomberg.com/news/2012-09-03/asian-stocks-open-little-changed-on-u-s-stimulus-bets.html

?????????????????? http://www.reuters.com/article/2012/09/03/us-china-pmi-services-official-idUSBRE88200Y20120903

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And if you are interested to know the difference between the two manufacturing PMI???s: here???s some info

?????????????????? http://www.businessinsider.com/markit-hsbc-china-pmi-comparison-2012-9

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Now, there???s an interesting question: ???Who inherits your itunes (or kindle) library????

?????????????????? http://blogs.smartmoney.com/paydirt/2012/08/23/who-inherits-your-itunes-library/

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August was not a very impressive month for the dividend stocks out there???

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/8/31/august-another-bad-month-for-dividend-stocks.html

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This is really interesting: just by turning the chart on its side, you get the feeling that you are looking at something completely new! Which is not the case???

?????????????????? http://www.zerohedge.com/news/guest-post-shape-40-years-inflation??

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Spain is testing the waters by claiming that it can seek extra aid, without having to comply to new rules???

?????????????????? http://www.reuters.com/article/2012/09/02/us-eurozone-spain-idUSBRE88102Z20120902

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???while capital outflow in Spain continuous unabated

?????????????????? http://www.reuters.com/article/2012/08/31/us-spain-economy-idUSBRE87U0CV20120831

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The rise and rise of entitlement programs in the US

?????????????????? http://online.wsj.com/article/SB10000872396390444914904577619671931313542.html

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More than a quarter of the ETF???s are too small to be economically viable, according to the Financial Times

?????????????????? http://www.ft.com/intl/cms/s/0/020e67bc-f219-11e1-8973-00144feabdc0.html

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For the die-hards: two Article 4 consultations by the IMF: Austria and Finland

?????????????????? http://www.imf.org/external/pubs/cat/longres.aspx?sk=26223.0

?????????????????? http://www.imf.org/external/pubs/cat/longres.aspx?sk=26227.0

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The first mobile phone, from back in the 20s???

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And we are heading for a busy week, following a slow start because of Labour Day

?????????????????? http://www.calculatedriskblog.com/2012/09/schedule-for-week-of-sept-2nd.html

?????????????????? http://blogs.ft.com/beyond-brics/2012/09/02/the-week-ahead-september-3-7/

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