Although the Cafe is open, the proprietor is temporarily overcome by a state of ennui regarding the financial markets.
From the volume today it appears to be a more widespread condition than those managing this distribution rally would have preferred.
No positions taken into the close except of course those very long term ones so firm as to be not worth discussing.
"Notre ennui, nos mœurs fades sont le résultat du système politique." Balzac La Femme de Trente Ans 1832
(Our boredom, our insipid customs, are the result of the political system.)
15 June 2009
Ennui
12 June 2009
Wall Street's Toxic Message Carried in the Winds of Change
Joe Stiglitz writes an important essay, and it is suggested that you take the time to read it. It helps to explain many of the things we have been saying, including the forecast that 'a new school of economics will rise from the ashes of this crisis, as Keynesianism rose from the Great Depression.'
These are changes of an historic nature, and as such they will progress slowly, and be largely unnoticed by those going about their daily business.
But the tides of change have been loosed, and what we have known, and relied upon, and expected will be shaken to its foundations.
Wall Street's Toxic Message by Joseph Stiglitz - Vanity Fair (pdf)
09 June 2009
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