Boy, is it dull out there. All everybody wants to talk about are the Washington Follies starring the Obama Administration and various leakers from around the world. Imagine, on a day when the German High Court met to hear arguments as to whether the Mario Draghi Save The World Bond Buying Program violated German law, no one seemed to care. What's that? You don't either? Well you darn well should because...because...well, I'm not really sure. Draghi is going to do what he is going to do, Frau Merkel will at worst be neutral until after the elections, and the Bundesbank will huff and puff but not really try to blow anyone's house down. While all of this is going on, the economic numbers stink but no one is in crisis mode. The short term strategy is to make it to August when all of Europe can go on vacation and ignore everything. The long term strategy? There isn't any of course but all seem comfortable with that.
Over Here, great joy as S & P decided that the outlook for the credit picture of the United States was no longer negative but neutral. I though we might be able to hear the cheering on Wall Street all the way Out Here but despite listening real hard it was quiet this morning at 0700 hrs...except for the sound of the falling rain which in these parts was most welcome. The Fed was quiet, markets were quiet and I probably should be quiet as well. So I ease into a new week looking for someone or something to liven things up. If it bleeds, it leads. Later
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