Say hello to jobs

US initial jobless claims plunged below 400k this week, reaching the lowest level since the crunch. If you want regular economic data that gives a clear signal of the direction of the business cycle, you need look no further than this release. Yes, the numbers are revised each week, sometimes by quite a bit. But it's a long-term series that conveys key information about the jobs situation. The renewed dip in this indicator is consistent with GDP growth of over 4% so watch to see how analysts revise their growth numbers up in the new year. Once jobs pick up, consumer confidence follows. They are both lagging cyclical indicators, with jobs leading confidence. The latter has bumped along in a trough for many months but looks set to turn up now. California showed the biggest decline in the week this time. The QSL is from KXBT, Vallejo, CA, near SanFran. I heard it in Sheigra (north-west Scotland) when I was lucky enough to go on a DXpedition with the British DX Club in 1996. It was an early X-bander, operating on 1630 kHz with just 1kW power at the time. Vallejo was an early victim of the credit crunch, filing for bankruptcy in 2008.

There's gold in them thar Madre de Dios

Gold made headlines in 2010, breaking to new highs above $1400/oz at times. The yellow metal is not the key commodity for South Africa it once was. Thirty years ago SA produced over 600 tonnes p.a. of the stuff. Now production is running at barely 200 tonnes. A lot of this is to do with the fact that SA gold is found deep underground, several kilometers in some mines, so getting to it has become increasingly expensive. Some analysts get quite hectic about gold, especially those who have it in for the US Federal Reserve whom they accuse of printing too much paper money. But the truth is that gold has not performed as strongly as some other commodities like steel scrap or even coconut oil (see this link http://www.businessday.co.za/Articles/Content.aspx?id=129304). The QSL is a gem from Radio Madre de Dios in south-eastern Peru, heard on the 60mb. There is gold here and much of it is mined illegally by miners who use mercury to dissolve the gold. This is causing environmental degradation in one of the world's beautiful jungles.

London wipe-out, Cape zing

There was a rare north-wester this week and I slipped out early before work to catch a wave at Muizies. In summer the south-easter blows pretty steadily and the onshore wind flattens the waves and creates loads of white-water. The kite-surfers have the place to themselves. When I arrived the wind hadn't fully swung round and the waves were poorly shaped and breaking early. It was hard work just to get out. Then suddenly the NW wind kicked in. The water surface turned glassy and the waves shaped up. There was a fair swell running and it was overcast. The bigger incoming swells stood out a darker, more ominous green signalling a powerful ride if you got your timing right. The QSL is from BBC Radio London, heard in Johannesburg in 1985. London has experienced 100-year cold, snowy weather this week and many holiday-makers failed to make it to the Cape beaches.

Catching the Yule tide

It's Yuletide time again. Here we are at the winter solstice in the northern hemisphere (and summer down here in Cape Town). Yule goes back to pagan times and was a recognition that the days were about to start getting longer. The Yule log these days is a cake but in ancient times would typically be an oak branch to set on the fire which would hopefully burn for a long time and give out good heat. This winter in the north is particularly cold. The amount of snow in London this month is much greater than in any year during the 12 we lived there. It's the second cold winter in a row. Is there any connection with global warming? You have to wonder whether a couple more cold winters won't have people revising their opinions on this thorny subject. Maybe its just a statistical blip in a long cycle. Meanwhile, it's hot in Cape Town but it's been a pretty mild summer so far. The QSL is one of many I collected from UK AM stations in the 1990s. This one was heard just before Christmas 1997 - BBC Radio Derby.

Whales in Betty's Bay and BA

Betty's Bay is about 100km from Cape Town, accessed by a beautiful coastal road that runs vertically above the sea, via Gordon's Bay. In its day it was a whaling station and some of the old installations are still there. Now it is a holiday destination, consisting of a number of vacation homes and a fair-sized village. It is renowned for its strong winds and this weekend was no exception, with the south-easter gusting up to 40 knots. Running along the beach in this is a two-phased experience. It's best to go out into the wind, even if you do find that at times you are barely moving forward, with calves and ankles blasted by a miasma of white sand. Then, turn your back to the wind and take long strides. You float. The whole coastline is famous for its sightings of the southern right whale. They arrive in August to breed and usually hang around until November before heading south towards the Antarctic again. The species is thought to number 12000 and are increasing. We have definitely noticed rising numbers in the past four years. They also frequent the coastlines of Australia, New Zealand and Argentina. The QSL is from Radio El Mundo, Buenos Aires, heard on 6120 kHz here in Cape Town in 1968.

Dallas Fed to the rescue (who?)

What a week! It started off with equity markets in a swoon. The Irish debt package was announced and it went down like a lead balloon. Panic set in. If Euro 85bn wasn't enough, how much was enough? Who's next: Portugal, then Spain, even Belgium? Is there enough money in the world to bail them all out? On the flipside was this steady undertone of good economic data. Early in the week the Dallas Fed survey came out. It looked good. The employment component looked excellent. Who cares about the Dallas Fed survey? Sure, Texas is big, but it's not everything. But Dallas was backed up by Philly Fed and Chicago PMI, along with the national ISM. In all cases the employment components are looking very solid. So it was Euro contagion vs accelerating growth. Then Europe decided to remind us that 'whatever it takes', in place since the credit crunch crunced, is still the mantra. If it comes to that one day the European Central Bank will just put up a couple of trillion and fund the Eurozone bail-out vehicle (EFSF). Europe is not gonna let that grand project go down the drain, no matter what the sceptics say. It's deeply rooted, born out the desire to put generations of devastating wars into the past. The markets rebounded with zeal and ended the week on a strong note. The QSL is from KCBI, Dallas, a Christian short-wave station, heard in Joburg in the 1980s.

Celtic tiger burned too brightly

Ireland has agreed to a bail-out by the EU/IMF. The Irish initially resisted the support partly because it rings historical alarm bells about its sovereignty after years of subjugation by the British. But no amount of emotional policital baggage can hide the fact that Ireland lost the plot. At first the Irish economic miracle was a marvel to behold. Eventually, though, things just went too far. House prices doubled and doubled again and greed took over from common sense. The state simply spent too much. This is surprising given the loads of common sense that the Irish appear to have. It is by no means certain that this deal will do the trick. Irish banks are bust and the state is carrying the can. At some point holders of Irish bank debt will have to face reality. A swap of discounted Irish debt for equity is needed. A voluntary exchange would be far preferable to an involuntary default. Of course, finessing this is very tricky. In the meantime, the massive bail-0ut deal will bide the country time. The QSL is from RTE Radio 1. This long-wave transmitter is easily audible in London. I often used to listen to it driving around town. It offers high quality programming. The letter is signed by the legendary Bernie Pope. She has signed many a QSL for our DXing community over the years.

Helicopter Ben storms Frankfurt

Fed. Reserve chairman Ben Bernanke stood up in Frankfurt yesterday and gave it right back to his critics. He was under fire from various sources for the latest round of Fed money creation, known as QE2, not to be confused with the cruise liner! At the heart of the Fed's strategy is the intention to boost asset prices. As long ago as March last year, former Fed chairman Alan Greenspan clearly stated that rising equity prices were key to a global recovery. Critics of the Fed are missing the point - QE2 is not about weakening the dollar. It's about restoring assets to value levels, after the shock overreaction down during the crash. Although it's not on anyone's radar screen right now, house prices are also likely to turn the corner. Currently the US is building far to few homes for the growth in the adult population. Sometime next year perception of this is likely to dawn which will add a further boost to asset prices in the US and abroad. The QSL is from the Hessischer Rundfunk in Frankfurt, home of the European Central Bank. I heard it on 594 kHz AM when living in Johannesburg in 1990.

Seoul in the dead of night

A million words, a thousand sherpas, hundreds of business executives, scores of ministers. One communiqué. Any news? Last week’s G20 summit in Seoul, Korea marked another grand gathering of economic policy-makers, charged this time with spiking the ‘currency wars’, alleged to have broken out in recent months.One could be forgiven for not being too overwhelmed with worry. If the IMF’s October economic growth update is any guide, we ought not to fret. It puts global growth at 4.8% this year and 4.2% next. Putting that in context, the average since 1970 is 3.7%. Usually it is when growth pushes up to 5% that we need to get worried. At that speed things start to break– we run out of capacity, or labour - prices take off. The IMF also has world trade volume up 11.4% and 7% in 2010 and 2011, against the 40-year average of 6.9%. Of course, we should always be sceptical about the IMF’s forecasts. But if these estimates are in the ballpark, they would be of the ‘not too hot, not too cold’ variety i.e. just right. As for currency wars, it is hard to know who is fighting whom. The US is pushing more liquidity into its banking system while China is keeping currency appreciation to a minimum. To do that China must absorb forex inflows into its economy, tantamount to boosting domestic liquidity. The QSL is from JOIF Fukuoka in Japan on 1413 kHz heard from Seoul in 1999. After the Asian debt crisis I had several trips to South Korea. I would often be jet-lagged flying in from London and would sit in the dead of the night in the Westin Chosun Hotel in Seould listening to Japanese AM stations. This was one of them.

Fed fired up in frenzy

Just as the US Fed embarks on QE2 - another bout of liquidity infusion into the banking sector - US jobs data pick up steam. Jobs are the hottest political/ economic potato in the US and the Fed has a dual mandate - keep inflation under control and keep the economy moving. Because jobs are so sensitive, any delay in recovery in the labour market puts a gun to the Fed's head. And yet, a look at 60 years of data will show you that what's happening in the labour market right now is typical of any post-recession. Jobs are usually slow to recover, and this shock was the worst in (most people's) living memory. It always takes time and the time taken this time is not different from other times. But the Fed feels obliged to act. It has also staked its reputation on avoiding Japan's experience of a 'lost decade' (or two). Japan has made several infusions of liquidity over the years, to little avail. But it started too late and in any case the dynamics of the Japanese economy are different from the USA's. So the Fed will probably do too much for too long. Whatever you say about Japan, the radio stations have a great QSL record. They just about always reply, to me at any rate. This QSL is from JOLF in Tokyo on 1242 kHz AM, heard in 1999. It still come in here in Cape Town from time to time.

No luxury in the Velux 5 Oceans

The Velux 5 Oceans single-handed yacht race is under way. Only 5 entrants this year, in one of the toughest tests around - 30000 miles around the world, alone. They started in La Rochelle and first stop is - where else? - Cape Town. Here the 5 skippers will prime themselves for the gruelling haul across the Southern Ocean to Wellington, New Zealand. In its earlier manifestations, two South African sailors, Bertie Reed and John Martin, were both very competitive, Bertie finishing second in 1983. John Martin made a name for himself in another way, slamming into an iceberg in 1991 while leading and being dramatically rescued by none other than Bertie Reed. The fleet has just passed the Cape Verde Islands on their way into the Doldrums where the winds drop eerily as they push for the Equator. The QSL is from Radio Clube de Cabo Verde, heard here in 1969. Instead of putting my name on the card, they wrote "The Chimes", which was the name of our house. It's ok, I'll answer to "The Chimes", especially for a gem like this one!

One hand clapping in the forest

If a tree falls in the forest and no one hears, does it really fall? What is the sound of one hand clapping? Is the chair you see really a chair, or is it only the dimension you're in? If a big wave breaks on the shore and no one sees, does it really break? If I add another post to my blog and no one reads it is it really a blog? Dinna be stupid, of course it is! Flying in from Johannesburg on Friday evening, the pilot circled out over False Bay to make the approach into Cape Town International from the south. A good north-wester was blowing and the swell was running. I could see sets of waves sequenced out through the bay. Each had a different shape, no two the same. On Saturday afternoon wind and swell were still just right and I had some great rides. The power of a wave rises exponentially. I went out right to the back and waited for the big ones. It's a little frightening when you realise the peak of the wave is starting to curl over and you have just a few seconds to bear off and stay in the swell as it peels along. The energy and sound are exhilirating. With the sea in mind, I can only support the San Francisco Giants in this week's World Series against the Rangers, now that the Yanks are out. The QSL is from KGEI La Voz de la Amistad in San Francisco, heard here in 1968. This is one of quite a few US shortwavers QSLd over the years.

No hope for Suu Kyi

Burma is holding elections next month. 20 years ago was the last time it did so. The winner then was Aung San Suu Kyi. She's been banned or locked up ever since. So we won't be holding our breath for democracy this time either. The military automatically gets 1/4 of the seats. Suu Kyi's National League for Democracy, the overwhelming winner last time, is not participating, unless the junta makes major concessions, which seems highly unlikely. There are a number of other parties but their chances are slim, as no foreign observers will be around to see how fair the poll is. The military have a few parties in the running too. Their chances are better! Myanmar, as it is now officially called, is audible here in the afternoons and at night on 49m. There are even English programmes. The QSL is from the Burma Broadcasting Service in 1972. Every evening at 1730 local Cape Town time there would be an English language show, with the last 15 minutes before sign off playing instrumental old standards. They were songs my dad knew well and I'd go and hum them to him to get their names. I must have sent in 7 or 8 reports with this kind of detail and finally got the response. Burma attained independence from British rule in 1948 but the 1972 programme still sounded like an Asian BBC home service!

Will the young 'un take over in Pyongyang?

Kim Il-sung Square in Pyongyang was the scene of a major military parade this weekend. It was the first time such an event was filmed for western TV. Probable successor to Kim Jong-il - who else but his son, Kim Jong-un, (the "Young 'un" - ha, ha) - appeared with his dad. It's a big planet with a lot of strange things on it, but North Korea has to be one of the strangest. It's next door neighbour, South Korea, is an economic powerhouse that sailed through the recent global credit crunch with barely a blip. Up north, the vice-like grip of the Kim dynasty has ensured that the country slipped steadily down to the bottom rungs of output per capita. The QSL is from the Korean Central Broadcasting System, received in 1967. In those days the South African apartheid regime was fiercely anti-communist. Despite this, here was a schoolboy in Cape Town receiving QSLs from every communist state there was. And these countries were only too keen to oblige. Fortunately, no security policeman ever came knocking on my door!

Bulgaria rules Brazil, OK?

It looks like it will be Dilma Rousseff. How could she lose, with Lula telling Brazilians: 'A vote for Dilma is a vote for me'? Her father emigrated from Bulgaria in the 1930s and she was raised in Belo Horizonte. Two Belo Horizonte stations, Radio Itatiaia and Radio Inconfidencia, come in well here every night on the 49mb. Dilma is riding the crest of the Lula wave, while Brazil is riding the crest of the China wave. When Lula was elected in 2002, the country seemed to be on the brink of default. The benchmark Brazilian C bond was trading at 50c on the dollar and prospects looked bleak. How things have changed! Brazilian stocks are the darlings of the emerging markets now. Without Lula, Dilma would be pretty unelectable. In appearances around the country the people turned out to see him, not her. He has cult status. Like Tony Blair, she has never been elected to office before. No worries, mate: Brazil is on a roll now, with or without her. Or so it is thought. It will be interesting to look back in a few years and see how she's done. The QSL is from Radio Globo in 1968, the first Brazilian station I ever QSLd.

Do you know the way to .... San Diego?

Whew, what a trip! Cape Town to San Diego with stops in London, The Hague, Frankfurt, New York and Austin (Texas) along the way. Over 25k miles in all, more than a trip once around the world. We have clients in these places so I try to get over twice a year. San Diego is in a temperate zone on a latitude of 32 north, not too different from Cape Town's 34 south. That's why quite a South African diaspora now resides there. It even has a 'Saffas' expat club. With its great climate there must be plenty of braaiing activity! The rather sparse QSL attached is from XEPE, San Diego (although the transmitter is over the border in Tecate, Mexico). The 10kW rig made it over 10k miles into Simonstown, near here. The programme was about the local Padres baseball team. Currently the Padres are within an ace of getting the National League wild card. With Atlanta to beat, it's gonna be tight, going into the last weekend of the season. Over the years I've gotten into following baseball and football. I'm a fan of the Yankees and the NY Giants, having been to NYC so many times. But this week I'm rooting for the Padres!

Not that Bird Island, this one

Hands up if you know where South Georgia Island is! This bleak place just made the news because Ellen MacArthur spent time there. She is a heck of a sailor - broke the solo circumnavigation record in 2005. She's giving this up (for now) after camping on the island to highlight the plight of the albatross, an almost mystical bird that stays aloft for as long as seven years. Now that's catching thermals! We see them here off Cape Point sometimes. I spent many hours in 1986 while living in Johannesburg, straining to hear the radio comms of the British Antarctic Survey bases dotted around the Antarctic region. I also heard a couple of their supply ships. They would often come up on Friday evenings, not that they had much night there in the Antarctic summer. The scientists would exchange news. I also heard the US and German bases. Like the Falklands, South Georgia is also claimed by Argentina. But being over 1500 miles from Buenos Aires it'll be a bit hard to defend! It's also famous for the crossing by adventurer, Ernest Shackleton, in one of the great Houdini acts in exploration history. He later died and was buried there. The QSLs are all signed by BJ Turner of the BAS in Cambridge, England. He filled each one in with detail and comments making them a great collectors' item.

No patience required on the plateau

Another Saturday afternoon, another good session at Muizies. Again the strong wind dropped and the sea was glassy, with a southern right whale cruising offshore. Surfing, radio and markets all require patience to deal with randomness. Sometimes, waiting at the back of the surf you see nothing but flat water. Then, a little, slightly darker crest appears far out. You don't know if this is a single wave or the first of a set. Do you take the first one or wait for a bigger one behind? Sometimes the bigger one promises more than it can deliver, because it closes out, breaking all across the wave at the same time. The smaller one could have had the better shape. So sometimes you wait, sometimes you just go for it. Over the years I've hunted some radio stations over an extended period, constantly revisiting frequencies in the hope that they will eventually pop up. Other times, a new station was simply there. The QSL is from Radio Plateau, in Jos, Nigeria on AM. I hadn't even heard of this place when I tuned in the station randomly. It was in English, with local programming, the best kind of radio. I got a good report, sent it off and the QSL arrived within a few weeks - old typewriter, skew page and all. A classic and no patience required!

Whales and Wales

The whales are back. False Bay is teeming with southern rights again. On Saturday we saw a bunch frolicking about off Sunny Cove and more near Simonstown. It appears they are a little late this time, in recent years they have usually arrived by early August. On Sunday afternoon the north-wester was up again and I had a two-hour wave-skiing session at Muizies. It had howled all weekend but finally dropped off. Every now and again I sat and waited at the back. A southern right with black and white markings lazily rolled by about 300m offshore. There were also a few seals popping in and out of the swells and the odd seagull would glide by low to the water where the air was calmest. As the wind dropped the water became glassy and the swell shape improved, allowing for long rides ahead of the white water. The QSL is from 756 AM in Maldwyn (a different kind of 'Wales', lol). This low-powered transmitter came into Kent in the middle of the morning.

In kangaroo country Kalgoorlie watches

Australia's election has delivered a hung parliament for the first time in 70 years. Both Tony Abbott and Julia Gillard will try to sweet talk independents into helping tip their parties over the line and into government. Julia Gillard's Labour blew the election wide open when her predecessor, Kevin Rudd, proposed a crazy super tax on Australian mining companies. These companies are the engine room of the economy, linking it to the evolving might of China. Within weeks he was out and Labour had to scramble to regain lost ground. The outcome is in the balance. The QSL is from 6KG Kalgoorlie in Western Australia. We hear a lot of Australian AM stations here in Cape Town, especially from the western side. The manager, Graham Harvey, sent this nice letter drawing a comparison between Kalgoorlie and Johannesburg. Gold was found in Joburg in 1886 and from nothing this region is now responsible for 40% of South Africa's GDP. Gold is still mined in the area, some of it 3-4 kilometres underground. Kalgoorlie was founded only 7 years later and the mine still operates as an open pit, rather than deep level. These days the Super Pit is jointly owned by Barrick and Newmont, two of the best-known global gold miners. They will be watching the outcome of the Aussie election with interest.

Indus floods but India normal

Devastating floods have plagued Pakistan and China. In China's Gansu province the floods have triggered fatal landslides. A quarter of Pakistan is said to be 'under water', with the waters still rising. The global financial crisis has also inhibited the generosity of developed countries, making Pakistan's plight in particular that much worse. In contrast to the monsoon flooding causing the Indus River to overflow, the monsoon season in India is running about 4% 'below normal.' See this link.... http://www.imd.gov.in/section/nhac/dynamic/seasonalra.htm Region for region the overall picture is about normal after a slow start. This will help India deliver a decent crop this year which in turn should lead inflation lower. The Reserve Bank of India has hiked interest rates several times but if the crop comes through it will be able to take its foot off the brake soon. The QSL is from Lanzhou in China, the Gansu province People's Broadcasting System. QSLs from provincial broadcasters are not easy to get and I've sent many reports enclosing mint Chinese stamps with very limited success.

Going backwards to Akron

Muizenberg was good this morning: a light north-wester and bright sunshine; ambient temperature low 20s, incredible for mid-August; sea temperature only 14 but it was so good I stayed in for 2 hours. The swell was bigger than in recent weeks. I had a first today - as I was paddling out a big breaker scrunched me. I was shunted backwards for 20m but stayed on, eventually swinging the ski around the right way. I was so chuffed. The main difference between a paddle-ski and a surfboard is speed. A board is faster and you'll see most surfers riding the swell to the bottom and then cranking it back up to the crest. On a ski you have less speed so if you drop to the bottom you lose pace more than a board. It's better to stay higher on the wave and keep up the pace. That sound of water hissing around you as you surge across the face is so exhilirating. You get the same sound on a dinghy like a Laser or Hobie, cutting through the water. It's natural energy. There's a similar effect on AM radio at dawn when long-distance signals rise up through the ether creating a fluttering sensation. The QSL is from WAKR Akron Ohio, a 5kWer - heard just before 7 am Cape Town time in winter 1968, one of my first US AM stations, 8200 miles away.

Kent to Kenya

The past week's referendum in Kenya turned out well. There was a strong 'yes' vote for constitutional reform and the leader of the 'no' vote campaign conceded defeat. Many write off sub-Saharan Africa but there are signs that the region is starting to emerge from years of sub-par performance. The group has recorded surprisingly strong growth in recent years, coming through the recent global slowdown much better than many developed countries. It is interesting to me that the rate of fixed investment in sub-Saharan countries is higher than most in Latin America (including Brazil) and indeed many Asians. Of course, China and India are very strong on investment but aside from these two stellar performers, sub-Saharan Africa scores well. The QSL is a friendly letter from the station engineer at Kenya Broadcasting Corporation's medium-wave transmitter at Maralal on 1350 kHz. I heard it in Kent where we had a weekend place. I was using a K9AY antenna and my trusty Drake R-8 receiver. He also sent a full detail QSL and a postcard with a magnificent rhino on it.

Making waves in the South China Sea

Last Saturday a strong north-wester blew most of the day but tailed off in the late afternoon, making perfect conditions for wave-skiing at Muizenberg. There was patchy sun and cloud as the day closed producing a kaleidoscope of greens, yellows, blues and greys on the water. Some say waves come in detectible sets but in truth they are difficult to read and seem random. Every now and again a single big wave pops up, at other times a bunch arrive in a sequence of four or five. Random wave cycles at the shoreline are like those in markets and radio too. Currently, Hillary Clinton is upping the ante in the South China Sea, which several countries see as vital to their strategic interests. The QSL is from Radio Malaysia, Sabah on the southern side of this sensitive stretch of water. I wrote in many times for this one. Sabah is also the place Nick Leeson, God bless, went to first when on the run after the Barings collapse in 1995. Being a DXer I was one of the few people who knew where he had gone. And that's another story!

Chicago! Go Chicago!

The Chicago PMI surged to 62.3 on Friday, pretty much off the chart. This was way above expectations and accompanied by a similar stellar reading from the Milwaukee NAPM. Media attention decided rather to focus on the second quarter GDP release and the hefty growth downgrades during the recession quarters (i.e. the rearview mirror). In my book the Chicago data hints that the slowdown in the economy, following the first rush of recovery, is temporary . One interesting ratio is the Chicago PMI new orders component relative to prices paid. New orders up, prices paid down. This is a great dynamic for a resumption of business energy and a pattern often seen in previous cycles. This is not double-dip action. The QSL is from Newsradio 780 WBBM Chicago IL received in 1989.

Basque-ing in Stress

Only a small handful of European banks failed the 'stress test' this week. The failures were pretty well signalled ahead of the results and equities rose on the (not much) news. A few Spanish 'cajas' were singled out as well as a German and Greek bank. The test had a low hurdle rate but hey! what's wrong with a bit of good news, given all the gloom that's sloshing around. There's one group of economists hogging the limelight at present, preaching ongoing misery for years to come. Maybe, maybe not. German economic data is stellar right now - the IFO business expectations index for July was the highest in 16 years. The QSL is from a Spanish AM station - Cadena SER, San Sebastian in the Basque country. I have quite a few of these, heard in SA and the UK. Local Spanish stations have brief time windows when they run their own programming and identifications. It's fun to hear them. On some frequencies there are several so it can be quite a job trying to sift out one from another.

Man of Stalin

Stalin was born in Georgia, Trotsky in Ukraine and Nikolai Bukharin in Moscow. Bukharin was an economist and after the 1917 revolution returned from exile to edit Pravda. After Lenin died, Stalin aligned with him to defeat Trotsky in the Politburo. In time, however, Bukharin's anti-statist tendencies brought him into conflict with Stalin. In particular he opposed Stalin's brutal collectivisation of agriculture, particularly in the Ukraine. Stalin exacted tribute from the farming peasantry and eliminated the price mechanism. Small wonder the Soviet Union had decades of grain shortages. Eventually Stalin destroyed Bukharin, subjecting him to a show trial and he was executed in 1938. Today, Georgia has aligned itself with the West while Ukraine is playing the middle course, despite the Orange Revolution. The QSL is from Radio Moscow's transmitter site in Simferopol, Ukraine. At one time you could send a reception report to Moscow asking it to mention the transmitter site on the QSL. I collected a whole bagful of these. (Orsha in Belarus is also on this one). Later it was revealed that it was by no means certain that these were indeed the sites. Today we watch agricultural prices oscillate at fantastic speeds. Wheat has shot up in recent weeks while cocoa is making a multi-year high. Sugar plunged after a huge run and rice is rolling over. It's a trader's paradise!

Empire State of the Nation

Empire State business confidence survey released today continued a series of weaker readings on the economy over the past few weeks. A debate is raging among economists as to whether this loss of momentum is the start of another downward spiral or merely a normal pause after the first phase of a recovery. My take is the latter: we have lots of history showing that activity slows following the first blush. Choose your economist and you'll get the answer you want! Your economist's view may well be a function of his/her personality rather than any mystical insight into the future. I'm a glass half full guy. The Empire State is so named somewhat cryptically for its 'variety of wealth and resources.' Alongside is a QSL from WINS, one of NYC's most famous AM stations. I first caught it in the 1960s and it still wafts into Cape Town today. One morning in 1968 I happened to pick it up relaying the shocking news of a crash of a South African Airways 707 near Windhoek in what is now Namibia. It was very strange hearing news from so close to home from somewhere so far away.

Running amok

Really getting into this. Here is a utility QSL. Used to make these little cards myself and send them to the station with a report and also a local picture postcard. I heard Naha Aeradio quite a bit in the 1980s while living in Joburg, RSA. A low-powered 1 kW station on an island group that certainly contributed to the downfall of Yukio Hashimoto, the Japanese PM, a few weeks ago. He to'd and fro'd on whether to move the US base there. This was not a smart thing to do in a country that has been getting quite sniffy with its politicians recently, having thrown out the long-ruling LDP. Now Naoto Kan, who replaced Hashimoto, is wriggling after the current ruling DPJ lost the upper house in today's election. Will it impact the yen and Japanese stocks? Probably not much: politicians of whatever hue in Japan have their hands tied by the huge debt burden and declining population dynamic.

PDF to JPEG and straight to Sana'a

I discovered that Windows Picture Manager converts pdf files to jpeg. Using the snapshot tool in Adobe Reader you copy the picture. Then paste it onto an existing pic in Picture Manager and Export as a jpeg. This creates a new file which is also much smaller than the original pdf file and can be uploaded into Blogger. This QSL is from Sana'a Radio in Yemen. It was a relatively easy-to-hear station in English just off-frequency on 9780 kHz. Over a period of 10 years I must have sent in about 15 reports, along with postcards, return postage etc. Finally out of the blue this rather smart card rocked up with full details.

QSL gallery

I scanned all my radio station verifications (QSLs) into pdf, only realising afterwards that Blogger doesn't accept pdf images. I found some freeware to convert pdf to jpeg and this is how it looks. This is from All India Radio, Andaman and Nicobar Islands. You don't get more romantic names than that.

Cairo chaos

I've travelled to many cities but Cairo has to rate as the most chaotic of my experience. The driving is truly scary. We saw the pyramids - 4500 years old, astonishing. The picture is from our hotel balcony. We checked every few hours to see whether the pyramids were still there - they were!

Sailing in Greece

This is the Bavaria 46 cruiser we sailed in around Corfu and Paxos last month.