Guardians of Grail

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place to be in today’s sluggish economy.Time to panic again! Or, on second thought …So I was too busy smashing potatoes (with shallots, butter and cream), falling asleep in front of the TV with the Giants-Broncos game on, and other such important matters Thursday to pay attention to the global market freakout occasioned by Dubai World’s announcement that it was going to stop paying its debt bills for six months. (Dubai World is the investment arm of the Dubai government; if you want to catch up on the story, read FT Alphaville).As of this morning, things are already calming down a bit. Some Asian markets were down sharply overnight,http://www.dtvtk3.com/, and U.S. stock markets started the day 2% down. But European markets, which took the brunt of the hit yesterday, are up on the day. And while there’s certainly been a bit of a rush to safety in debt markets today (with investors buying the likes of U.S. Treasuries and selling emerging market debt), it is so far not indiscriminate and of pretty modest proportions.Anyway, I was about to write a list of the different spins one could put on the Dubai troubles,[url=http://www.dtvtk3.com/]jimmy choo sale[/url], then I saw on my RSS reader that Krugman had beaten me to it. His taxonomy sounds about right, so:First, there’s the view that this is the beginning of many sovereign defaults, and that we’re now seeing the end of the ability of governments to use deficit spending to fight the slump. That’s the view being suggested, if I understand correctly, by the Roubini people and in a softer version by Gillian Tett.Alternatively,[url=http://www.dtvtk3.com/]jimmy choo outlet[/url], you can see this as basically just another commercial real estate bust. Either you view Dubai World as nothing special, despite sovereign ownership, as Willem Buiter does; or you think of the emirate as a whole as, in effect, a highly leveraged CRE investor facing the same problems as many others in the same situation.Finally, you can see Dubai as sui generis. And really, there has been nothing else quite like it.Krugman thinks it’s a combination of No. 2 and No. 3 (sorry, left that out when I first wrote the post). Obviously he’s going to downplay interpretation No. 1,[url=http://www.dtvtk3.com/]jimmy choo shoes sale[/url], because he’s been calling for more government borrowing and spending to fight unemployment in the U.S. But that doesn’t mean he’s wrong.Meanwhile, we can all watch how world markets react to the Dubai news. A return to the indiscriminate panic of last fall would be really bad. A move toward a more skeptical attitude toward risky assets, in which investors feel compelled to do more work to sort out the dodgy from the relatively safe, would be a really healthy development. So far I think we’re getting the second reaction.I should add that another important side-effect of the whole Dubai mess is that it has allowed Felix Salmon to use the word Anstaltslast again.Time to Shine for the Samsung Pixon 12Samsung�s latest mobile phone has finally arrived and it has the potential to have one of the biggest impacts this summer. This mobile screams quality � from its sleek and stylish look, all the way to its cast of remarkable multimedia features. However, all of these will definitely find themselves in the background once you learn about the new Samsung Pixon 12�s distinguishing feature which is its one of a kind 12-Megapixel camera. The Game Changer It is a fact that a camera has become a must for a device to be considered as a competent mobile phone. However, it seems that Samsung has taken this prerequisite to a whole new level by adding a 12-Megapixel camera � the most powerful we�ve ever seen in a mobile phone. That in itself should already be enough to convince anyone of this mobile�s prowess, but Samsung has gone a step further by adding excellent features such as image stabilization, wide dynamic range, and a 28 mm wide-angle lens. This is of course on top of the other basic functions such as smile, face & blink detection, autofocus, and geo-tagging, to name a few. Natural ProgressionThe begging question now has to be � is the market ready for such a powerful camera? Or better yet, who
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