Scarlett Does Italy

"I can't think of that right now. If I do, I'll go crazy. I'll think about that tomorrow."
--Scarlett O'Hara (Gone With The Wind)

Today it's Italy's turn to take the stage in the EU mess. Chatter has it that Italy's finance minister, who is among the most respected financial minds in Europe, is thinking of stepping down. If he does so, then we may see more fireworks if markets express a vote of 'no confidence.'

Since the financial crisis here two years ago, I have increasing wondered why markets seem unable to discount problems looming right in front of them. The EU situation, like the US credit debacle, was visible for miles. Yet markets ignored the signals until the storm was here.

Scarlett would be proud...

position in SPX