The Kiss of Death, Pelosi-Obama Style

Feeling a little bit of that Olympic withdrawal today. The sensational WSJ editor Jason Gay wrote a tremendous piece this morning arguing the Paris Games "saved" the summer. And I think he's spot on.

What do we have to look forward to now? School; less golf and baseball, the post-Labor Day work push. And, oh yeah: the election and those persistent, nagging, spiraling out-of-control hotspots in the Mideast and Europe.

Wanna talk the yen carry-trade some more or the Fed's latest views on inflation, instead?

Waiter: can we have a different menu.

Society's problems didn't disappear over the past two weeks although it might have been tempting to forgot about them for a while. Elections and wars leave a permanent historical mark - some good; some not so good - and with this in mind the last several months of 2024 could get pretty important all of a sudden. At least in terms of global stability, for what that's worth.

Rates keep coming down. 3.90% ten year last. Vix is at 20. Far cry from a week ago when the quants suddenly lost their minds. When in doubt: blame the algorithms.

Is it too early to bring up the fact that the QB1 transfer portal at the WH is already paying huge dividends. Check Polymarket; ahem.

And would it be inappropriate to add despite lacking the 25th Amendment as a tool of gentle persuasion, the GOP might wanna look around to find out if they, too, have any bench strength - or even a few breathing alternatives - to consider an in-kind replacement. Amazing what you can do when you liberate the weakest link. The Band-Aid removal part ain't too much fun. It gets so tricky, doesn't it. But then...

Ah, why even bother.

Who's gonna get that Bronze for gymnastics, anyways.