We understand now that our problem all along has been that we took the E - Z elitist types seriously. Charlie, the cowboy who works our ranch in California, noted way back, “Are you kiddin' me. This damn thing’ll never fly.” That was our first clue.
The final clue is that we learn today that EU types claim water does not work, and they want that in print! The clowns in Brussels are now banning drinking water manufacturers from claiming that water may help to prevent dehydration. The poor soul who dares print that water may help the body along faces two years in the slammer! And somebody thought these morons could manage a combined currency of 17 nations? Hah, hah. Too much.
And the mess? The ECB will not cave to a full blown QE. It rightly does not consider as part of its mandate the rescue of sovereigns. That is not its understanding of lender of last resort.
Next, the EFSF is going nowhere as its finances depend on the very same characters it is meant to bail out.
Thus, we think we’ve been right all along - we are headed to a smaller and more manageable E - Z. Tough to get there but nothing compared to what we face otherwise - a meltdown.
Little market-moving muscle to US releases next week. The Durables print (Wed) can be put to its room as it is prone to violent behavior. The Michigan sentiment read the same day means nothing.
Have fun as we’re off to Arizona for the Holiday to see our daughter Kim, husband Carter and granddaughter Reagan.
Robert Craven
Hi Bob!
ReplyDeleteJust happened to see your site. Thought I would say Hi! Sarah is getting married in April in Costa Rica. I see that Kim is married with a daughter. Wow! Sending you and Terry my best, Anne Clark (aclark1658@yahoo.com)