{"id":4308,"date":"2015-01-09T20:46:49","date_gmt":"2015-01-10T01:46:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4308"},"modified":"2015-01-09T20:46:49","modified_gmt":"2015-01-10T01:46:49","slug":"price-discovery-and-emerging-markets","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4308","title":{"rendered":"Price Discovery and Emerging Markets"},"content":{"rendered":"<h3 class=\"posttitle\"><a class=\"entry-title\" title=\"Price Discovery and Emerging Markets\" href=\"http:\/\/www.theautomaticearth.com\/price-discovery-and-emerging-markets\/\" rel=\"bookmark\">Price Discovery and Emerging Markets<\/a><\/h3>\n<p>I got to admit, Paris and Charlie have thrown me off a bit. Can\u2019t be just me who noticed how well the French CAC 40 was doing since Charlie Hebdo got shot, can it? Up some 2%, I don\u2019t quite recall, Wednesday, the day of the attack, and 3.59% yesterday. Doesn\u2019t that strike you as odd? It did me. It\u2019s maybe the perfect example of how alienated the financial world has become from the real world, from you and me. And it doesn\u2019t even surprise us anymore, it doesn\u2019t hardly seem worth mentioning anymore. But I thought I\u2019d do just that: mention it. The CAC 40 lost 1.9% today, but still.<\/p>\n<p>\u201cFed bullish\u201d said yesterday\u2019s headlines. Of course they did. But France? What have traders in Paris seen in the killings and blood stains that made them so jubilant they got all the way to +3.59%? And where are the ethics hiding in that number? I see no ethics. Should we accept that the financial part of our world has none? That it\u2019s a kind of a parallel universe? That it doesn\u2019t reflect anything that happens to us, and ours?<\/p>\n<p>Today the equally jubilant US jobs report has the Dow down almost a full 1%. Maybe nobody believes anything anymore, any more than the financial world reflects the real one. And maybe nobody cares anymore either. We just go about our days knowing that jobs reports are nonsense, that price discovery has been put six feet under, and that if we\u2019re really smart, we can still make money off of other people\u2019s misery. And isn\u2019t that what Darwin said the purpose of life is? Or was that Ayn Rand? I\u2019m sorry, Charlie threw me off a bit.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Price Discovery and Emerging Markets I got to admit, Paris and Charlie have thrown me off a bit. Can\u2019t be just me who noticed how well the French CAC 40 was doing since Charlie Hebdo got shot, can it? Up some 2%, I don\u2019t quite recall, Wednesday, the day of the attack, and 3.59% yesterday. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1732,333,391,1775,2533],"class_list":["post-4308","post","type-post","status-publish","format-standard","hentry","category-economics","tag-emerging-markets","tag-france","tag-growth","tag-oil-price-collapse","tag-price-discovery"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4308"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4308\/revisions"}],"predecessor-version":[{"id":4309,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4308\/revisions\/4309"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}