Thursday, July 26, 2012

Sugar Rush

Sugar, ah honey honey
You are my candy girl
And you've got me wanting you.

 I just can't believe the loveliness of loving you
(I just can't believe it's true)
I just can't believe the one to love this feeling to.
(I just can't believe it's true)
- Sugar Sugar, The Archies (1969 )

Or, for you bubblegum metal fans, how about "Pour some sugar on me" by Def Leppard?

Mario Draghi was the candy man today (Sorry, Sammy Davis Jr.). With his "we will do whatever it takes" rhetoric to save the euro it was like dropping Wall Street into Willy Wonka's factory. Kid in a candy shop. Yum, eat 'em up! Stock good!

Wow, the ECB chief beat the Fed Chief to the punch.

Let's think about this for a second. The Dow was down 267 points, including the Wednesday bounce, in the prior four days. It was time for some bottom fishing so the market was ready. Enter sandman, er, Draghi and his lip service lit the fuse.

Hmmm, what did Queen Merkel say about it? Is she on board? And haven't we seen this movie before? A central banker barks but the market feels no bite.

You know what happens when the sugar high wears off, as it very well may do tomorrow. You crash and burn. For you less dramatic types, it is that two o'clock feeling when your energy grinds down to nothing.

Show us the money, Mr. Draghi. And even if you do, Spain is going down. Greece cannot keep austerity and the dominos will fall.

And really, no love on Facebook and Twitter for noticing that Draghi and Drago (from Rocky) are very similar names? I even put it up on Pinterest for easy re-pinning.

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