Good morning

The headlines:

1. The United Nations General Assembly met.

   Link: And Mr Netanyahu brought a bomb.

   Apparently (and I seriously enjoyed reading this article), the UN General Assembly is a bit famous for being a collection of crazy.

   In previous years, Fidel Castro was caught plucking chickens in his hotel room, and Mr Gaddafi was always a bit of a headcaseline act.

   This year, in between the Jamaican Prime Minister singing a reggae chorus in honour of the late Bob Marley, and the Chinese/Japanese debate over the ownership of rocks, Mr Netanyahu described the severity of the Iranian nuclear threat:

   

   

   Step 2

   The Iranian leader’s response was to discuss “woman’s sublime role and personality, as a heavenly being, a manifestation of divine image and beauty”.

   So either he fell asleep during the many many hours of speeches, including Israel’s. Or he was calling Mr Netanyahu a girl.

2. Samsung Galaxy Tab 10.1 injunction lifted in the US.

   Link: it continues.

   Apparently, the basis for the new ruling was that sales of the Galaxy Tab 10.1 would be minimal anyway.

   Which I think is saying that the injunction is no longer relevant?

3. Samsung files iPhone 5 patent violation suit against Apple.

   Link: here we go.

   Two standards patents and six features patents.

   Of course, these are the same 8 patents that Samsung has accused Apple of violating with each version of the iPad and iPhone… I’m not sure why this time will be different.

   Are they not tired of legal costs yet?

4. Paul Volker says that the Fed’s actions aren’t inflationary.

   Link: getting defensive.

   Volker seems to think that flooding the market with liquidity won’t be inflationary in the US, and that the Fed can reverse its position in the future.

   It’s true that the formula does seem trite: more money + same goods = higher prices.

   Of course, he also says that the quantitative easing is “not going to have a profound effect on the economy”. Which is a bit like saying that the Fed is completely useless in this situation.

   Certainly, given how Mr Bernanke keeps increasing the stimulus measures with almost no discernible effect so far: Mr Volker appears to be, ironically, on the money.

That’s all for now.

Have a good day.