TMM were disappointed by the G20 like, oh, you know, most people who think there's a good chance that if we don't resolve global imbalances we might have a trade war and possibly even a real war to say nothing of the currency war underway. So, today TMM are putting their fingers which range from "ooh, that's a bit warm" (EURSGD) to "yup, that lava really does make your hand spontaneously combust" (AUDCHF) into buckets of ice and thought we'd note a few things the G20 can't organize.
1) A piss up in a brewery....
2) A lay in a Macau.....
3) A gangland shooting in a favela.....
We are open to further suggestions from our readers. Suffice to say that even when things do work out in our books on days like this you really have to wonder whether there are going to be markets, per se, a few years from now. Between global climate change and global imbalances the world is showing that it can't fix any problems that require coordination, even if it is very mutually beneficial and the downside is absolutely awful.
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