Evidence of a top in social mood is all around these days.
Yesterday my wife received a letter in the post,
It was a pre-approved loan for €20,000 from our credit union!
The boasted that they are now approoving over 90% of loan applications!!
I tore it up and threw it in the bin.

Thats on the home front,
In Dublin city,
property has rallied so much that people form ques down the street in order to view houses for sale! where have I seen that before?

The stock market again hit a new high in this blow off top structure.

Today the saudi government announced a plan to build a 500 billion dollar mega city,

When the government goes all in,
It's time to look for the exit.
How short the human memory span is.....


USD: Durable Goods Orders m/m, New Home Sales, Crude Oil Inventories.
EUR: German Ifo Business Climate.
GBP: Prelim GDP q/q.