Outside of some fairly generically interesting stories, the new this week has kept me snoring.  Good things are happening, maybe it is just me looking for something more exciting.   Not going to happen.   They say sell in May and go away.   I am just going to go away.

The big story this week was US Justice Dept’s relentless pursuit of the banks for their sins back in the crazed mortgage free for all.  I doubt anyone is going to shed a tear for the US banking system.   However the French are none too happy about the $10 billion tab BNP is going to have jammed down their throats.   I think we really pissed them off this time.  I wonder if it effects France’s decision to sell Russia that fancy new high tech Carrier and train 400 Russian sailor over the next 6 months.   I think they got us.   

Meanwhile, back here in US Bank of America is looking at about $12 billion in penalties.   That’s gotta hurt.  In 2013 BofA earned a grand total of $11.3 billion.    Hey, I see a pattern here.   Again, bankers are universally loathed across Main St, so the bigger the number the better.   I doubt any of the bootie will flow to the people who need it most.  That’s the pessimist in me of course (another pattern if you have read me before)

The economic that came out this week looked reasonably good.  We are going nowhere fast, but that is better than another dip into recession.   Inflationary pressure here is US is under control.  EU has come to grips with the idea that something needs to be done to ward off deflation.   That was a relief to the market and we marched ahead yesterday with a big sigh of relief.  

Now check this out – Amazon is introducing a 3D phone and the stock price is responding quite positively to the news.   Moved up 6% yesterday and another 2% higher today.   But more importantly, we can all spend out days scanning Film Annex in 3D soon  - Now that is Super Cool.   Do they have a Droid App yet?…anyone…little help here.   

Have a nice weekend
WSGardener