Thursday, February 13, 2014


OK.  We have a Fed Head that everyone loves and a wide open approval to spend money we don't have without any restrictions, lousy numbers on the economy to which no one seems to be paying any attention as the stock market roars ahead, the Spanish 10 year trading through the U.S. 10 year, The Leader joking with his new buddy, Frankie, that he likes the job because he can do anything he wants and Turkey covering a $1.5 billion 31 year issue in the mid-6% range about 3X.  I mean, like, what can go wrong?

I guess there is something to this "new reality" thing because we old guys who sit and watch this just don't have a clue.  True, we are looking at another governmental crisis in Italy, but it's Italy for Pete sakes; they have one of those every twenty minutes.  The extent to which Greece is broke is finally being recognized but it's Greece for Pete sakes; they're always broke and who cares anyway.  The Germans punted to the high court in Brussels who signaled for a fair catch and will promptly take a time out for at least a year allowing Sr. Draghi to say anything he wants and hopefully, not having to do anything to back it up.  The Brits are out-performing everybody with a new projected growth rate of 3.4% which comes as a shock to everyone (especially Little Paulie) and the Bank of England which now has its knickers in a twist with interest rates which every day appear in need of adjustment for which few are calling.  I'm probable misreading the entire situation but I don't think I've ever seen a time like this one where nobody wants to have bad thoughts and the firm belief is if you don't nothing bad will happen.

I really have to learn more about China because there seems to be some concern there and if I don't know why I'm out of business.    Obviously we're in fine shape everywhere else, except for a few spots in Latin America like the Argies and the Vennis but they are rapidly becoming an irrelevancy in their own way much to the shame of both I am afraid.  Imagine what it must be like for those mobs to be told that no one cares.  'Bout the worst thing in the world.  Uh?  I'm actually smiling!  On top of that, it didn't snow again today.

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