As promised in my PubCamp Sydney post, I am now able to provide a brief glimpse of the Stubborn Mule on camera. Sticky Media’s Craig Wilson asked the probing questions while Gordon Whitehead rolled tape…or at least operated the video camera. Gavin Heaton (aka servantofchaos) was up first, followed by yours truly and finally Markus Hafner (aka eskimo_sparky) of Happener. That was all there was time for as the conference was about to begin.
I took an early mark today to attend some of the PubCamp Web 2.0 Media (un)conference in Sydney. Unfortunately I had to leave early and so missed the later unconference sessions, but I have a spy who promised to provide a detailed report. Still, there was enough in what I did see to make me glad to have made the (short) trip.
For many years, Countdown was an institution on Australian television and I was a dedicated fan, never missing an episode. I even made it into the studio audience once in 1980 (I can pinpoint the year as Ghengis Khan’s Olympics theme song, Moscow, was number one on the charts). It was through Countdown that I had my first exposure to Krautrock when “The Model” was released by Kraftwerk in 1978. Of course, purists would argue that by then Kraftwerk had moved beyond their krautrock roots into electro-pop, but it would be another 30 years before I understood that.
Yesterday the Sydney Morning Herald published an article on the latest retail sales numbers for New South Wales that contrasted the sales growth in take-away food and pubs and clubs with the decline in business for cafes, restaurants and fresh food retailers. This is put in the context of with rising mortgage rates and fuel prices, to suggest that consumer behaviour is starting to shift. The data is published by the Australian Bureau of Statistics, so I decided to dig a little deeper. Prompted by a comment over on the Junk Charts blog, I’ve used a table enriched with spark-lines rather than the heatmap I used in the inflation post.
I had lunch with friends today (Yum-Cha at Sky Phoenix) and mentioned that I’d started this blog. I was astonished to hear that two of them claimed never to have read a blog! Now I know I spend a lot of time dabbling in all things Web 2.0 and I certainly didn’t expect anyone around the table to be plurking, but surely everyone reads blogs, don’t they? Apparently not. Since I gave strict instructions to everyone around the table to visit the blog (and leave comments, nudge, nudge), it seems like a good opportunity to share my blog-reading habits with these blog novices (and everyone else who may drop by).
When I started this blog, I expected to focus on my personal interests, such as 
music, technology and science. As it turns out, most of the posts so far have emerged from my work-life, dealing with finance and economics. Seeing Sonny Rollins perform last night at the Sydney Opera House makes for a good excuse to change this with a post with a musical theme.
When I first started a serious exploration of jazz a few years ago, Saxophone Colossus was one of the first classics I added to my collection. Recorded in 1956, it features perhaps the most famous Rollins track, St Thomas which rapidly became a standard and is likely to be familiar even to those with but a passing acquaintance with jazz. But just in case you are not familiar with it, St Thomas is the first track on my Jazz Sampler over on mixwit [Update: with the demise of mixwit, these links no longer work].
The Joint Economic Committee is a standing committee of the US Congress is charged with reporting on US economic conditions. Needless to say, the Committee is making a close study of the financial turmoil triggered by the collapse in US house prices and rising delinquency rates among “sub-prime” borrowers. Recently Alex J. Pollock gave testimony to the Committee entitled “Regulatory Implications of the Housing and Mortgage Bubble and Bust”. Continue reading
Our four year-old, Henry, has become a devotee of what he calls “little lego” and will spend hours assembling and dis-assembling his mixer truck. However, the pieces are very small and, despite constant parental efforts to ensure everything is carefully packed away, there was always a risk that something would go missing.
A Financial Times story has been doing the email rounds in the markets over the last couple of days that points to a colossal stuff-up on the part of the financial ratings agency Moody’s. It seems that a programming error in the model they used to rate “Constant Proportion Debt Obligations” (CPDOs) meant that they assigned a rating of AAA to billions of dollars of securities which they should have rated A+, a whole four notches lower! To make matters worse, FT claims that when Moody’s found the error, they tweaked their rating methodology so that they wouldn’t have to lower the ratings. Shortly afterwards, of course, the credit bubble burst and the price of CPDOs collapsed. Whoops!
Until recently, I’d never given much thought to the fact that whenever I buy my lunch at the deli behind my office building, I always get the same sandwich (chicken, avocado, cheese, tomato and lettuce on multi-grain, in case you were wondering). Then I started reading Dan Ariely‘s book Predictably Irrational and realised that I’d been “self-herding”.