perhaps the world has figured it out.

just wishful thinking.

“If you don’t support the price,” Andrei V. Polyakov, a spokesman for Alrosa, said, “a diamond becomes a mere piece of carbon.”

But the global market for diamonds is so dismal that the Alrosa diamond company, 90 percent owned by the Russian government, has not sold a rough stone on the open market since December, and has stockpiled them instead.

As a result, Russia has become the arbiter of global diamond prices. Its decisions on production and sales will determine the value of diamonds on rings and in jewelry stores for years to come, in one of the most surprising consequences of this recession.

Largely because of the jewelry bear market, De Beers’s fortunes have sunk. Short of cash, the company had to raise $800 million from stockholders in just the last six months. In the first quarter, De Beers reduced output by 91 percent compared with the previous year. The diversified mining companies Rio Tinto and BHP Billiton also curbed production.

Meanwhile, the market for wholesale polished diamonds, worth about $21.5 billion, is expected to fall to about $12 billion in 2009, according to Polished Prices, an analytical service for the industry.

studying for LEED is very boring… at least until I get to Jurassic 5 on the study playlist.

it’s a song of the day from January – get it here and sing along

Scorpio…Cancer…Leo…Taurus…Sagitarius…
Hey…hey, hey
[Soup]
Now, if theres a party theres about to be
Then let me start queing up the frequency
Six members, fresh spinners, we make the fly ladies say…
Hey…Hey
The Shak-Zulu shot a rhyme right through you
Now your don’t want static with my crew now, Do you?
C.A. all day, we make the party people say…
Hey…Hey
Check it, regardless what you heard this year
The party atmosphere is only crackin’ right here
And uh, we givin’ you the theme that ya want
Cha come clean if ya want, know what I mean
If ya don’t because…
[All]
We just wanna get you out
To the party everybodys talkin’ bout
[Soup]
And you dont have to worry bout a fee
Ya see its all vi-a-vi
Because you’re rollin’ with me and uh…

Cliff Asness, who runs quant fund AQR Capital, has distributed an opinion letter discussing the Chrysler deal. Cliff brings up the “other side” of the argument, which is actually quite relevant. A quote:

Here’s a shock. When hedge funds, pension funds, mutual funds, and individuals, including very sweet grandmothers, lend their money they expect to get it back.

here’s a link to the letter

mayer hawthorne + stone’s throw = a catchy song and a fun video

check it out:

get it here

and the heart shaped 7″ single is available here