[Infowarrior] - OT: Unless & Except . . .

[Richard Forno]

Unless & Except . . .
  
By Barry Ritholtz - June 18th, 2012, 7:29AM

http://www.ritholtz.com/blog/2012/06/unless-except/

Yeah! The Greeks Voted!

For the Xn-th time, important events took place in Europe that either did or did not resolve an impending crisis that is either imminent or not.

This was absolutely and unequivocally crucial, unless it didn’t matter at all. Either of which was equally likely.

Indeed, this past week was absolutely critical, except that it wasn’t. The Greek elections determining their future relationship to the EuroZone was simply of the utmost importance, unless not. Yes, they didn’t matter; No it was quite important. Unless it was the other way around.

The ‘mother of all central bank interventions’ is going to save Europe, unless it doesn’t, in case its back to square one. Everything has changed, except nothing is different. Indeed, nothing has changed except for everything. Unless it wasn’t, in which case it was.

The fiscal responsibility issue, which is the single most important issue ever, except for the past half century, when it didn’t matter at all, has once again resolved permanently and completely by postponing it again.

Then no, not so much.

Here in the States, the upcoming Fiscal Cliff is the most important issue of our time, except its never mattered and is likely to be resolved without incident. Unless not, in which case, so sorry about that credit outlook downgrade.

Indeed, this is the most important election of our lifetimes, except for all the other ones. They were super important, except not.

This week’s FOMC meeting will reveal whether QE is imminent, which it is according to those who know, unless its not, which equally likely. Operation Twist could be extended. Or expanded. Or canceled. Unless not.

The Fed will be releasing their announcement at 2:15 on Wednesday. Unless like last time, they are late, in which case it will be 2:30ish.

This will cause another Risk On rally as traders anticipate the Fed’s action, unless it doesn’t, and they don’t, or in case the Fed doesn’t, in which case we didn’t. Or won’t. It gets fuzzy around this junction.

Most importantly, you must be on the look out for rumors or reports that may or may not be true and do or don’t matter. Or not.

I hope this clarifies the state of things . . .


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