Friday, July 18, 2014


I could be I guess.  The sun rose today and nobody seemed to give a damn of yesterday's events in financial markets.  Equities are up, bonds are unchanged, FX are untouched and The Leader mouthed inanities about who caused the shoot-down while his military and intelligence sources (he likes to take ownership) told us yesterdays that it was a Russian Rocket fired from inside the separatists zone.

So one has to wonder what it is going to take to get folks off this complacency train we've been riding for the last views years?  I thought this was it but nope, I guess not.  Anyway, along the same lines Espirito Sancto Financial Group went in the tank today filling for bankruptcy in Luxembourg.  The Euro didn't budge from its 1.35 handle because,  I guess, as a result of the statement from the Portuguese central bank and anyone else near a mike that all is well in the world of banking at the subsidiary even though the Panamanians grabbed the off-shore sub and about $800 million in assets.  Adequate private means to re-capitalize the bank…if necessary…are available said the reports.  I suppose there is always a market for the sale of a bridge in Brooklyn owned by the bank but perhaps I'm being unkind.  Once again Portugal is not a real country but one still has to ask oneself where the hell did this come from?  Or maybe I'm crying wolf again in believing that something like this…or the shooting down of a civilian aircraft in international air space should have some sort of effect on financial markets.  Guess not, or is there some sort of delayed shock effect that will manifest itself only after the weekend.

Speaking of which, this one in the fly-over zone is supposed to be a beaut.  We have a saying Over Here that the corn should be "knee high by the fourth of July."  The corn is about six feet high.  Farmer Brown has said he has never seen a growing season like this one.  It has been perfect.  Yield are to be monstrous and prices down.  The big battle is for storage space.  If you ain't got it by now they tell me, you ain't gonna get it.  Now being a city kid I never understood why, if faced with a situation like this, the government just doesn't buy the excess and give it away.  Yeah, give it away to the entire world in need.  Probably be the best use of money ever for this or any other administration.  Then again, I'm just a city kid and don't understand these things.  Problem is I'm learning that there is more and more I don't understand.  I don't like that.  

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