Tuesday, October 28, 2014


Might as well wait for it although it's a pretty much foregone conclusion that QE III will end but the gang will announce continued vigilance and an acccomodative policy until the recovery and solid job performance really kick in whenever that may be.  After the terror of a few weeks ago, the Street has an almost ho-hum attitude as to the state of things with not even any concern expressed over the upcoming election in a week's time.  Lessez les bon temps roulet as they say in the Big Easy.  OK, suits me.

Over There, the Union decided not to make any comment or take any action in regard to France and Italy's flouting of the rules regarding deficits.  Dare I say told you so?  The explanation was that a whole new mob takes their half-million Euro seats in Brussels on Saturday so why not leave it to them to earn their money.  After all, they only work on average of 11 days a year...OK, OK, that's a bit of an overstatement.  But one must understanding, this isn't like mandating the size of a label on a sales item for 350 million people; this is HARD!  Full consensus, exhaustive debate, multi-faceted consideration, etc., etc., etc.  Why anyone puts up with this is beyond me.  It's truly worse than our Congress.  Then again, when the Frenchies announced that it was the inverted V to the rest in regard to finances, what came out in the wash was the figure of 58% of the French GDP is the government!  Now that's a hell of a number; more than half of a nation's economy taken up by politicians and bureaucrats.  And one wonders why there's a bit of stagnation in EU economies.  As a matter of fact, I marvel how France could be doing as well as it is given the amount of non-productive work.  These guys have made it an art form.  And the Italians...well, there has to be a reason for the greatest artists the world has ever seen coming from one country.  Practice, practice, practice to this day, in all things, Mona Lisas and not working.  Still make neat cars, though, although no money selling them.  God, I would love to live there!

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