I don't have much to say today because last night the neighborhood almost blew down. Nothing...and suddenly 80 mph winds that took down trees all over the place. We and the neighbors were out at midnight clearing trees off our street so that vehicles could pass. Fortunately, no one was hurt nor was there much damage to homes or property if you overlook the Beemer that got flattened by an oak while the owner was exiting the car. Gets your attention.
This morning was for surveying the damage and arranging clean-up so I have no idea what went on except for the tale of the PBOC--that's the Chinese central bank announcing that all banks that were engaged in businesses which benefits the state should have nothing to worry about in any crisis. Boy, I thought I bet everyone will sleep well tonight...especially if they can figure out what in the hell that is supposed to mean. Talk about picking winners and losers! And we worry about "too big to fail." Here's an entire nation in the grips of corruption and out comes the government to announce that we'll allow it to continue for those we like? Suddenly, I am even more concerned that this might end badly as in my experience there is no such thing as a partial bail-out; you are either all in or all out and let the carnage run its course, but half measures always produce greater panic due to the sheer uncertainty of it all.
Ten year ticked up slightly to 2.60% while some very good economic numbers, especially in real estate, pushed the Dow into positive territory by about 100 points. Yippie. I'm going back to raking leaves.
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