Postcards: Dumb Questions Everyone Should Ask...

Don't worry if you don't understand our monetary system. Our leaders don't either, and don't care to find out.

Market Update: We're still green, but the CPI figure was hotter than expected. According to Ed Yardeni, the Fed could be done cutting rates for the rest of the year. Meanwhile, interest rates are moving up, impacting collateral quality in the markets. It's getting a bit dangerous again, but China may be moving to provide even more stimulus this weekend. All eyes are on central banks—the same as they ever were.