Dear Contra_Folk,

After three years of jabby-blabby speeches about employment halting legislation from Obamacare, unfriendly Fink-Frank financial de-regulation uncertainty, bushy tax cut extensions, debt ceiling theatre, guns, gays, re-elections and red/blue team 1st round picks... and practically everything else on earth but "JOBS, JOBS, JOBS!" - we find it amusing to suddenly hear all will be fixed with this economic policy. 

Whew.  You're In Good Hands with All-State.

All will be better in the second half of next year... and then it will be mentioned once again, and unfortunately again... as it will, once again..., get better for all in the second half (once we increase the debt ceiling by $2T...) of the Double-Decade De-Leveraging Depression when we, collectively, can get back to work... in Q3/4.   BLS employment report on Friday will be a snoozer likely... up 50,000 down 50,000 who knows, who even cares... with the smell of freshly printed Fedsury money in the air what exactly the free market jiggery will look like.

For The Foreseeable Future

Next up: tough cuts to someone else's budgetary forecasts in order to balance long-term deficits budgets - well that is after a "taxpayer paid" holiday break for Congress to enjoy the nice and enjoyable summer month of August 2011. 

So today we find the 30:1 leverage temptation on the brand new debt ceiling release from Fedsury of $400B (apparently approved yesterday), far too much "goodness" to continue playing short against the PPT after these past 9 days... so we shall now sell slowly away from our short positions and go slowly more long over the next few days, so time to start going long young man ... long HSU-T, HQU-T, UUP-N, ZSL-N and DZZ-N.

Ping-Pong Chump,
Contra_Man