Easter Sunday

They don't make Easters, nor Sundays, much better than this. I just stepped outside: light warm Santa Ana breeze. A whiff of jasmine still in the air. Not a cloud.

An almost full moon last night. Two mornings ago, as I was getting in my car to head to work before dawn, a full moon was just about to set in the west, as big as when it rises in the early evening. Almost as big as the setting sun. I can't remember seeing that before.

Chasing It: The Next Bubble

During my adult lifetime, we've had the dotcom bubble (and collapse) followed now by the housing bubble (and collapse). With markets in disarray, now is perhaps the time to start focusing on the next bubble. For once the markets have readjusted themselves, there will be just as much loose capital as ever looking for a fix.

My money's (not literally) on energy:

Why Are Oil Prices Climbing So High? (npr.org)

A friend of mine with whom I was discussing this recently pointed out that it's not necessarily easy for most ordinary people to get into the energy -- or energy futures -- market. I noted that the same could have been said, to a large extent, of stocks and homes before the last two bubbles. Indeed, it was the financial and technological innovations allowing the general public to get in on the action that really freed speculation. And I imagine many of the world's sharpest minds are already at work coming up with a solution to whatever problems of access are holding down the next bubble.