"AW, MAN!"

...which is what my granddaughter says when she gets frustrated...she's 9 by the way.

It seems that there is something in the IMF rules that states if you owe multiple amounts in any one month, you can add them up and pay at the end of the month.  Never heard of it but apparently it exists.  Which means, of course, that the "real" date for Greece is not next Friday but the thirtieth of June.  I you are anything like me you were hoping that this soap opera would end next week one way or the other but no such luck.  The only good thing is that with each passing day it becomes more and more meaningless.  More fun would be trying to figure just what day it will be when the last Euro in circulation finally leaves Athens.  THAT might indeed be June 30 which might usher in a modern day version of barter and swap which would be fun to watch.

Over Here, the talking heads have dismissed the entire thing as unimportant as it relates to the U.S. and in particular the stock market.  They are bored as well and as the situation is not bleeding, let's not talk about leading.  Over There the folks take a less sanguine view.  Then again, you tend to get a few mixed views coming from such sources as CNBC who on one hand dismiss the revised first quarter GDP numbers (-0.7%) as a result of

a.  The Weather, and
b.  A blowing up of the trade deficit

with apparently no thought of what would happen to the dollar/euro if we have a Greek default.  If you thought the first quarter was affected by a strong dollar...

Needless to say Mario at the ECB has made it very clear that he is no mood for the Euro to strengthen and as we have often said, Janet has painted herself into a bit of a corner with all this blabber about "normalizing" interest rates.  Do that and Sr. Draghi becomes the happiest man in town which is why I still do not see that happening any time soon.  Janet has a big gun but no bullets.  The 10 year skidded down to 2.11% at the close today with probably more to come.  Problem is the DOW also slipped by 115 points putting it all over the lot for the week.  But the NASDAQ hit an all-time high as well.  You get the feeling that what is need is some form of super magnet to pull all of these diverse pieces of information and observation together to create some kind of identifiable form but so far no luck on that front.  Maybe by Monday.  Spoke with my Granddaughter today...she's says it's going to be a good weekend.