A DIGRESSION

A political comment. If you have never visited France, go. It is a wonderful country, steeped in history in it's ancient and beautiful cities, posessing some of the most beautiful countryside in the world and of course the food is beyond compare. It also has had, throughout its history produced some of the stupidist politicians, foreign ministers and leaders the world has ever seen. Take for example M. Alain Jeppe(as Henny Youngman would have said, "PLEASE!") the present foreign minister. Seemingly swelled by the thought that France just might win the first war it started since William the Conqueror (although I'm offering 6-5...any side), Al felt it his position to warn Syria and The Saudis to look out because what's going down in the middle east just might happen to them. The Syrians promply shot anyone watching CNN and the Saudis prepared to shoot everybody. Look Al, in case you missed it, the only thing that's keeping Oil from going to $300 a barrel is the Saudis. As we have said before, JUST SHUT UP!

Now back to our regular programing.

The Euros met it Brussels today amid the collapse of the Portugese government. It wasn't a complete disaster but it came pretty close. The expected increase in the bailout fund didn't happen and there was little if any discussion as to what to do about those pesky Irishmen who have come to realize that now that they have nationalized their banks they can just pretty much do whatever they want with them including forcing a haircut upon the creditors...read Eurobanks. Great entertainment in keeping with the wonderful traditions of the Irish. Needless to say the well-known sense of humor of the Germanic people is somewhat different at best. I am told the atmosphere in the meeting-hall did not resemble a Bavarian Beerhaus in October. Ah well, tomorrow is another day.

Surprisingly, all the European Bourses were through the roof today and our markets were up again. Go figure. The best one of the day was Warren Buffet told our gal Becky Quick that he's not at all sure that the Euro was immune from going bye-bye. At 1.42 to the buck I would bet my booties that ol' Warren is mucho short the Euro. Then again, Warren wouldn't talk his book, would he? Maybe he just wanted to impress Becky with his insight as if $60 billion or so wasn't enough. She's a girl isn't she?

Finally, I've talked around and I can't find anybody that's long Treasuries, so once again I humble ask, "Who's buying the damn things." And if I'm right and nobody is can QE III be far behind? I would further bet that Warren is mucho long Swissy. Then again, so is everybody else.

Big dinner party tomorrow night and I have to cook. If anything really interesting happens I'll be here but chances are Monday will be the next time around