Polo Ralph Lauren Corp. (RL) has recently launched an Apple, Inc. (AAPL) iPhone application that allows users to customize the Rugby brand of shirts. The move is an extension of the so-called "merchantainment" program of the company that blends its merchandising efforts with entertainment. Polo Ralph introduced the Rugby brand in 2004 to primarily target young adults. The new application enables iPhone and iPod touch device users to personalize the Rugby line of shirts including varsity sweaters, rugby shirts, polo shirts and hooded sweatshirts. Customers can now add patches that feature numbers and letters on their shirts, and upload their photos with chosen hairstyles, skin tones and backgrounds. The strategic move is aimed at utilizing popular networking sites to augment sales and establish direct communication with end users. Similar moves had already been taken by diverse companies such as Dell Inc. (DELL) and Starbucks ...

The following is a joint effort by me and Edward Hugh and if we are both individually prone to writing long and (sometimes excessively) winding entries a combination is bound to be long and ugly; well, the former at least. Surely, it seems, in Macro Man's words that the ECB may have had one of those Damascene moment as interest rates were cut by 50 basis points yesterday. It was not the actual 50 point cut which was largely expected, but rather the ensuing comments by Trichet. In particularl I took note of the fact that now it is not only falling energy prices (disinflation) being mentioned, but also downward pressure on prices from falling domestic activity.

Obviously, the discussion which we hope to initiate here comes in two phases. First, there is the question of whether or not the ECB should be considering QE at all? I

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It appears everyone and their dogs are Keynesians now. They believe the only hope for turning around the global economy is lots of government spending and quick. Spend, spend, and borrow even more, they say.

There’s a frenzy of calls for governments to give handouts to taxpayers and to spend up large to support consumption in slowing or recessed economies. The biggest poster boys for this approach are UK Prime Minister Gordon Brown, US President Barack Obama and Australian Prime Minister Kevin Rudd.

The US Congress is expected to sign off on a pared-down US$780 billion plan this week. It doesn’t have everything Obama wanted, but most of it. Last week Rudd announced a A$42 billion package of spending, including a A$950 cheque for most adults by March.

Then last week our Prime Minister John Key appeared to announce a damp squib of a package aimed at small business. It was “only” costing

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