udon for summer

Sometimes I meet American people at a Japanese restaurant thinking over the menu, trying to decide what to order. Some people are brave enough to ask which one I would recommend.

Most of time, I recommend what I like. I took a picture of list of dishes I like to eat for lunch so I am posting it for American friends.

Normally, Japanese people eat a lot of carbs, either rice or noodle. The noodle in the picture is called udon. When you put curry on top of the noodle, it's called "curry udon." As guys get hungry so fast, I like to eat a little bowl of rice in addition to the noodle. Spicy eggs of cod and minced mountain yam enhances the taste of rice so much. As side dish, I ordered two pieces of croquet.

It was pretty hearty lunch, I think I can work hard for a few more hours:)

How About Curry Rice for Lunch?

Everyday at work, lunch break is something I look forward to. I usually go out to eat Japanese food.

Today, I ate Japanese curry. There are many different kinds of curries; Indian, Korean and Japanese... just to name what I know.

Characteristics of Japanese curry is that its color is brown. It usually has diced beef, carrots and potatoes in it. It tastes good when the potatoes and carrots are diced in large pieces.

Today's curry tasted especially good because the flavor of the potato and carrots were still inside the veggie itself. It was cooked well, but not to the point is melted.

all kinds of penguins

Did you know that there are so many different kinds of penguins in the world?

http://www.adelie.pwp.blueyonder.co.uk/species_notes/SP_NOTE.htm

Financial Sector Being Hammered

Starting from last week, stock market has been bear. Most notably, financial stocks are being hammered due to worries over US sovereign rating threatened by S&P.

This is really a simple math; if the country's credibility is down, banks based in the country needs to pay higher price to finance a dollar.

The biggest decline in the financial sector today was Bank of America (BAC). BAC has a larger exposure to Freddie Mac and Fannie Mae compared to its peers.

I saw market news in the canteen, but the reporter was kind of optimistic that the marker will make a quick come back. I kept on hearing the same at the beginning of financial crisis. I really hope that market participants will have a positive look soon.

Gold Price Surging

Gold prices are surging while concerns about the state of the global economy looming. Investors are rushing to gold, pushing a high of $1,675.90 an ounce in New York on Wednesday, up from $1,641.90 on Tuesday.

Investors, spooked by a raft of discouraging reports about slowing job growth, have been pulling out of stocks and retreating into the safety of the precious metal.

The country's credit rating could still take a hit down the line, threatening the value of the dollar. Once you don’t trust in currency, you don't trust the markets and you don't trust your leaders. The only thing left is gold.

About Rating Agencies

S&P and Moody's both have threatened to cut the top-notch credit rating of the United States' sovereign debt for the first time in its history. As all professionals in credit market know, agency rating is a big factor to determine the borrowing cost. This is very big milestone in the financial market, as the move can push up the cost of credit world wide for many years.

There was an interesting Reuters article explaining the criticality of rating agencies by going through a role they played in recent economic cycles. The article also briefed David Beers, who is the global head of sovereign credit rating for S&P. I have heard about him before, but had no idea who he is, so it was interesting.

I am neither supportive nor against the credit agencies, because there are tons of pros and cons about them. But just like the world is not perfect, it is unreasonable to expect perfection from the rating agencies. Bottom line is that market needs them, and participants, including government, should work together to improve the clarity of information.

http://www.reuters.com/article/2011/08/02/us-ratings-insight-idUSTRE7714TI20110802

Tablet

Recently, almost everyone on commuter train has a tablet. Most popular one among my colleagues is nook and iPad.

I have been curious About it so I went to Barnes & Nobles today to play with nook during a break. It is pretty interesting, and it would definitely make my bag lighter(#^.^#)

06/2011 Consumer Spending (US Department of Commerce)

Commerce Department said today that consumer spending dropped 0.2% in June for the first time in nearly two years as incomes barely rose, suggesting economic growth could remain subdued in the 3Q11. Economists expected spending to increase, which accounts for about 70% of U.S. GDP, to rise 0.2%.

The growth potential for the economy has slowed significantly, as consumer spending is hampered by a 9.2% unemployment rate and the labor market's health could very well determine how fast the economy recovers. Budget cuts in Washington could also hamper the economy's recovery, although most of the fiscal restraint imposed by a plan the Senate will vote on Tuesday won't take hold for years.

After 07 – 09 depression, we are starting to see a sign that consumer spending behavior is gradually changing.

1. The decline in spending in June came even as gasoline prices retreated from their peak just above $4 a gallon in early May. Oil price is like an index for staple goods, such as toilet paper, so this data suggests people are hesitant to purchase extra goods when some money is left in the pocket after purchasing necessary goods.
2. With real disposable income outpacing spending, savings rose to $620.6 Bn from $581.7 Bn in May. People are starting to be more concerned about the future, saving up some cash for rainy day.

But there was some silver lining in the general weak report, which showed overall inflation pressures subsiding a bit.

US Debt Limit Bill

Republican leaders and the Obama administration voiced optimism that Congress will pass a compromise plan to raise the U.S. debt limit by at least $2.1 trillion and slash federal spending by $2.4 trillion or more.

As presidential campaign coming up in autumn, the two parties had a heated discussion until the very day before the vote.

I am very relieved to hear the news, as this agenda had been weighing down the market for the past several days. Moreover, US might have been in great embarrassment if the two parties could not reach the agreement.

The Standard and Poor’s 500 lost 1 percent to 1,279.50 at 2:34 p.m. in New York after climbing as much as 1.2% earlier. The Dow Jones Industrial Average retreated 80.26 points, or 0.7 percent, to 12,062.98 today after rising 139 points.