The most interesting stories in business and world events are right here. Let's begin!
1. Ocean freight rates (Baltic Exchange Index) hit an all time high, as capacity in dry bulk shipping is outpaced by global demand.
2. Nicholas Vardy at Seeking Alpha asks, "Are We Currently in the Middle of a Commodities Super Cycle?".
3. Bloomberg speaks with global investor Mark Mobius about emerging markets and US and world GDP figures. Thanks to Ivan of At These Levels for his comments on this clip.
4. More on the upcoming launch of uranium futures contracts on the NYMEX from MarketWatch. They pulled together some interesting quotes for this story, and its good to see them speaking with people who have been watching this market closely for the past several years.
5. Financial Times investigates the true state of the carbon trading market and finds "widespread failings in the new markets for greenhouse gases".
6. Biofuels are speeding up deforestation, but the UN is backing an EU plan for mandatory biofuel blending in automotive fuels.
7. Philanthropy steps in where the state failed. This report will come as no surprise to anyone familiar with libertarian philosophy or pre-welfare state history.
8. Entrepreneurs say business conditions are harder. A survey of British entrepreneurs shows dissatisfaction with excessive red tape and poor worker education, key among concerns over future UK competitiveness.
Interestingly, a quarter of the survey respondants seem to think that the government should do something to better the education system. Wasn't it government that gave them the education system and regulations that are currently in place?
9. In praise of entrepreneurs. The Economist reviews a new biography of economist Joseph Schumpeter.
While their review suggests that Schumpeter's work on business cycles "is little read today because the idea at its heart has not stood up to scrutiny", some observers have apparently taken notice of Schumpeter's writing on this subject.
For more, see Dr. Marc Faber's reading list in our link section.
10. Businessweek's Spencer E. Ante on David Halberstam's Last Speech. Audio tape and transcript of Mr. Halberstam's final public speech is available.
11. Reuters: Scientists find most Earth-like planet yet. Unfortunately, a search for intelligent life on the planet has only revealed the existence of a toy-dog-in-purse toting race.
12. Economist special report on credit derivatives.
13. Bloomberg columnist Caroline Baum says, "France's Sarkozy Is No Maggie Thatcher".
14. Hedge funds for the masses? Christian Baha's Superfund Pitch.
15. Gary Dorsch and Ty Andros discuss the rise in China's dollar reserves and the rise of global inflation.
16. Bear Mountain Bull on Dow 13,000.
Read and enjoy, my friends!