Friday's Hope & Despair : Ein Bild zwischen Breughel und Bosch
Again a mixed week of extremes which ended on a slightly more positive note with markets finding inspiration in the comments from Nowotny (ESM banking license) and Draghi (ECB prepared to go "all in"). And up we go, the traditional Risk-on-Risk-off ignited, sending EUR/USD and stock markets higher : Keine Atempause, Geschichte wird gemacht, es geht voran !!
Graue B-Film Helden regieren bald die Welt, es geht voran ! Now some amongst you who have been recently following my comments, might be tempted to conclude that I have become a real cynic and that I am watching all this with a big smile from on top of my ivory tower. I hate to disappoint you there because it just ain't true. In fact, the grey B-movie heroes are starting to worry me. In addition, I have become extremely worried about the fall-out or so-called whiplash following the end game of this EMU saga, whatever the outcome.
And so to quote from our live band of today, it might well be the case that we wake up in the very near future in "einem Bild zwischen Breughel und Bosch". And usually this means a pretty "unheimliches gefühl". But what is worse - and referring to our last Friday's recycling story - it can go more ugly if history is any guide: Crisis, mass deflation, protectionism, scape goats and before you know it, you have some kind of war on your hands. And to quote our life band from today again : "Und dann rettet kein Kavallerie, kein Zorro kömmert sich dodrömm..."
So we have to stay alert and always be careful what we wish for. Polarization and the sound of "left, right, left, right" is not exactly the sound I am longing to hear. Because usually it involves boots which are made for more than just walking.
Does it smell like teen spirit ? Or does it rather "Rusch noh Kristallnaach" ? Our second extract from Deutsche Neue /Alte Welle dates from 1983 and refers to 1938. It's a great live Rockpalast version performed by BAP and that's the only positive note to end with. No, correction,we're still gonna have that Friday beer any way, Cheers