Chief Market Strategist
Cronus Contrarian Corner
The “intel” that State Dept. officials are catty or certain nations think Russia is a Mafia state are hardly news to adults not living in caves. The real outrage should be that so many are involved in an information network that produces so little gravitas. Larry King had Putin on his puff ball fest last night and needed to know what the Prime Minister thought about gays in the military. The KGB-ers response was classic, he laughed and explained the need to increase population in Russia and the fact that gays could not help him there. What his eyes said was, “You silly American, world power is shifting, please make this an important issue in your country.”
The vacuous term “Risk On” was trotted out yesterday like the jolly English accent on Seinfeld. I’m with Costanza, we’re done with that. Every major market move since the crisis has been driven by liquidation. The only risk on trade is the Fed balance sheet. The amazing thing is how much hatred that singularity has produced. The high level of concern by Americans means it is most likely irrelevant given paragraph one.
Finally, some rumors have been going around that the next Wiki-leak is the Fed. We have a few items:
The Bernack: Did you see “Dancing with the Stars” last night? Palin should have been axed.
Sec. Geithner: Brandy was robbed.
OMD Sack: Couldn’t watch it, stacking bonds everywhere. Felt like Johnny Depp in “Blow.”
The Bernack: Hey I gotta take this, its President Jumpshot again.
Overheard on Chinese wiretap: Excellent, long term plan working.