Obituary: Bülent Ecevit - Five-times Prime Minister of Turkey who presided over his country’s invasion of northern Cyprus.

Saville: "Growth Causes Inflation?"

John Kay: “Well located houses are what the economist Fred Hirsh called a positional good. House prices are consequently a product of sociology as well as economics… The aspirant rich do not displace the very rich from the best homes but they make the very rich pay more for them. This is the self-defeating character of the search for the symbols of status and affluence.”

(Financial Times, 7 November 2006, “Pay no attention to useless house price forecasts”)

“The Euro (is) Rising as a Reserve Currency Ahead of a Dollar Crisis” - Excerpts From – “Gold Forecaster – Global Watch”

Roach: “…the hiring shoe is typically the last to fall in a cyclical adjustment… businesses are slow to rehire in an upturn and equally reluctant to reduce headcount in a downturn.”

“The disconnect comes when financial markets treat the lags as a counter-trend.”

Veneroso: “…hedge funds have moved to disguise their positions as commercial rather than speculative positions through their arrangements with brokers. But, more importantly, they now operate mostly “over the counter.””

“…the commodity markets have not been large enough to accommodate the tsunami of fund flows of recent years. So how have these fund flows been accommodated? Only by an explosion in commodity derivatives, as the physical stocks are too small.”

Veneroso quotes the following from Bloomberg (September 2006): “The hedge funds are self-fulfilling; they create the momentum and then they run along with it…”