“Vanna, Show Chip What He Won”
What if they had an election and it didn’t matter? Kind of like an NFL Super Bowl overtime coin flip that lands on the ground on “edge”; and you flip it again and still it lands on “edge”. The Greeks couldn’t collectively decide this past weekend who they wanted in charge to sell the country down the proverbial rat hole to the banksters.
Well, nobody asked me … but ….
They could let the Neo-Nazi “Golden Dawn” party run security and law enforcement; the radical leftist party “Syriza” could be in charge of education [just like in Amerika] and welfare; the communists could just hang around and cause trouble and offer nothing; and the “New Democrats” conservative party can run the country and be in charge of finance. What’s not to like here?
Like Butch Cassidy once said, “I got vision and the rest of the world’s wearin’ bifocals.”
Then there’s gold; as nasty a market as the political rhetoric coming out of Europe. After what happened to me on Friday …I can’t tell you when the next time I will trade this. To recap, for those of you who don’t know, I was up 5% and then I was down 12% within seconds. Did I mention I hate gold dealers?
Watching Greece is like watching a soap opera on TV; no matter how long you watch nothing ever gets solved. It just keeps going on with infinite iterations of adulterous affairs, back stabbing, and people selling out for the money. Geeeeesh, what else is new? Sooner or later you just have to walk away because you can’t take it anymore. It’s just the same old crap.
So, no new coalition is going to be formed to run Greece and “new” elections in 2 months to do it all over again. Meanwhile in Spain, yields on 10 YR.
toilet paper are over
7% and rising; in Italy,
yields on 10 YR paper is over 6% and rising; and in Ireland they want to “renegotiate”
As it says in the Bible; “Nothing new under the sun.”
The markets now are in no mood for “happy talk” from the bozo’s running things; they want concrete plans, not spin. Expect the half-life from spin to get shorter as time passes this week.
Oh, and let’s not forget Wednesday “the Bernank” is up on tap, and he better show the markets some love with QE3 or else. Markets are looking for at least $150 billion in new
money printing stimulus for the prop
trading desks at JPM and Vampire Squid.
Have a good day everyone.