Monday, August 1, 2011

America passes the bong around one more time

Hummer © GM

News comments:
We can now all get on with our lives.

Like a drug addict who says they will kick their habit tomorrow, the US Government has agreed to one last fix and will, yes sir, scout's honor, kick its debt lovin' ways sometime tomorrow.

The US Hummer has been given some more gas while its owners pretend they want to sell it for a Prius.

The markets will enjoy the drive until it realises later this year that the Hummer is never going to be sold.

Today's shorts:
Smug Obama gets his way (bloomberg)

Smug Tea Party gets its way (telegraph)

Today's longs:
Goldman no longer the gold standard: Lansdowne signal crash 2.0 is coming (cityam)

Obama to cut the deficit by outlawing the Tea Party.