Zero Hedge is reporting the VIX volatility index is at lows that haven’t been seen since 2007.
Meanwhile, the euro is up 3.7% for the week, as all the Continental news organizations are breathlessly reporting.
Generally, everything seems . . . calm.
Meanwhile—like a ticking time bomb—U.S. fiscal debt is ballooning, European debt is ballooning, everyone is racing to the bottom, trying to devalue their way out of this mess, jobs creation is no where near on pace to make up for all the lost jobs (“job creation” is really just “slowing increase in unemployment”), and all the while, commodities—be they agro, precious metals, industrials, and oil—are all steadily rising.
Mm-hmm [he said, scratching his chin and carefully looking around]: Therefore, the end is near—run for cover.