12 Things That Mattered Last Week

India’s Wal-Mart-phobic politicians. Barney Frank, of Dodd-Frank fame (or infamy, depending on your point of view). The Office as reality TV? All that and more in this week’s tour of the world (wide web).

1. A Wise Man Knows One Thing—The Limits of His Knowledge. Why math models are useful but will never do the job of economic/market forecasting.
2. India Goes Wild Over Wal-Mart. “How can a country that aspires to be a global power be scared of a big-box store? It's a question worth pondering as New Delhi's long-delayed decision last week to open the retail business to foreign investors unleashes a predictable firestorm of protest.” And later, politicians succumbed to the fear and backpedaled from the proposed rule change—further delaying the already long-delayed.
3. America’s New Deal for Global Energy Mix. “Reduced oil imports and increasing net exports of value-added refined products, will cut into the US trade deficit. It also will highlight the US economy's structural strengths versus others, particularly of the euro zone.”
4. US Weekend Holiday Sales Raise Hopes. While Black Friday doesn't necessarily cement a good Christmas season, it's nice to get off to a good start.
5. Life imitates The Office: Great Scott! Dunder Mifflin Morphs Into Real-Life Brand of Copy Paper.
6. The most awesome thing we’ve read in awhile:
7. Euro growth remains positive but anemic: Eurozone Manufacturing Slowed in November and the euro-debt saga drags on . . . and on . . . Central Banks Move to Calm Fears; Euro Zone Falls Short on Fund;French and Spanish Debt Auctions Bring Temporary Relief Ahead of EU Summit; IMF Approves 2.2 Billion Euros in Aid for Greece . . .
8. . . . Oh, and Brazil’s central bank is easing too:Brazil Joins Easing Moves With Rate Cut.
9. Japan’s economic recovery continues—Japan’s Strength Is Lost in Translation—but the going’s been choppy: Japan Jobless Rate in Unexpected Rise. However, it appears much of the chop was due to more encouraged jobless Japanese. Yup, unemployment rate calculations are wonky globally, too.
10. The nuts and bolts of capital markets continually evolve: Getco Takes Floor Against the Tide.
11. “The Germans, strong backers of further European union, are essentially laying out a choice: Either the governments of its worst-run nation states submit to some form of fiscal discipline, or the monetary union will disintegrate and they will be worse off for it.” A Political Solution for the Euro?
12. Well, this is one way to save Italy: Businessman Urges Countrymen: Buy Italian.