Never Let A Good Crisis Be Wasted

Speculative reflex reaction Friday and Monday by markets and of course politicians, was actually tempered, aside many obligatory statements in Brussels European Parliament today by the outgoing British representatives (and Mr. Farage too). You've heard about all that.

Now, in the panic-filled (while politically encouraging calm) aftermath of Brexit (a reality despite the dramatic snap-back), it seems creative ways of doing things (whether Britain signs-off of Article 50 or not, which is the trigger mechanism for the EU secession provision) are cascading all at once; though markets calm as we've suggested they would. Europe is not ready for this; especially in the East and the periphery. Countries that just recently joined the EU are especially livid in a series of publicly-quoted responses from their leaders.

Market reviews the behavior. It's a short-covering squeeze and normal post-panic snapback and not any sort of affirmation of a long-term bottom. You hear that because managers are of course freaked-out by everything and very nervous about a close deep into the 1900's.

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