News of the day March 14, 2014 at 12:31 am

Copper is limit down in Shanghai, Ukraine is getting hotter again, and investment bank profits are thought to be tumbling, so of course I am writing about baked goods. The important update is that I tried a crothingy this morning and really, as Bill hinted in his comment to my earlier post, they are not worth it. A St. John egg custard donut, yes; a cro, no. On the basis of this one data point I declare baked goods officially in bubble territory and demand macro-prudential intervention including but not limited to cocoa percentage floors, minimum custard-to-value ratios, and bans on little bits of pistachio that look good but taste of grit.

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