It’s Unfortunate

“It’s unfortunate handling by the Polish presidency, and bad news because the markets have tanked,” the diplomat said on condition of anonymity because of the delicacy of the subject. But the diplomat said the summit meeting should not be affected.

“We have created a world that is noncomputable because it is too complex,” said Fredmund Malik, chairman of Malik Management, a consultancy in St. Gallen, Switzerland.

 

Unfortunate ? That's what it is? The Great Differentiation proceeds despite  the EU's bureaucratic unfortunate-ness.  The White pack is trading 99.39+ with LIBOR at 42+. The volume is the lowest I've seen in decades. Yesterday, with another unfortunate EU member comment, the system teetered on the abyss and was able to find a toe hold. Out of nowhere, the Polish are the spanner in the works?

The quote at top is telling. They are tossing air balls and watching the ticker. The negotiations are not about loss recognition and moving toward reality. The charade is performed for the benefit of net change on the day. I'm not sure exactly what it is.....but its far more than unfortunate.

One thought on “It’s Unfortunate

  1. Ivan

    Agree on all fronts. The repetitive and unwelcome nature of these types of comments merit the moniker “spammer” in the works.

    What’s also unfortunate is how the actions of the Disunited States of Europe are reminiscent of the 2008 US Congress immediately before TARP. It’s like the Europeans are reading from a script that gives the stage direction “PAUSE AND AD LIB UNTIL MARKET CRASHES.”

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *