No movement on the U.S. debt front except for the fact that in this writer's humble opinion The Leader did nothing to move the process forward last night. If anything, his speech was an embarassment but in the heat of battle these things do happen. Which is the only subsatntive comment I have because there is absolutely nothing more to report.
One little tidbit in the food for thought catagory. The next time you see one of the great financial minds like Jamie Dimond spouting forth on what a disaster a default or a downgrade of U.S. debt will be, ask yourself this question: "Jimmy me Boyo, and just how much U.S, Treasury obligations do you have on your balance sheet at zero cost of funds and zero capital weighting? Now you would't be talking your book would ya?"
Beware of Greeks offering advice especially if they are bankers. We have just seen who were the winners in Euroland.
See you tomorrow...with something to write about I hope
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