“Frustrating”

(1) September should be like August, if we are lucky. (2) S&P 500 likely to retest August 8 low. (3) Obama’s stock is making new lows. (4) Obama needs to find his groove with Simpson-Bowles. (5) Everyone is fed up in Europe and with Europe. (6) Hostile reaction suggests that Christine Lagarde is spot on about recapitalizing banks. (7) The Fed’s new policy tool: Two-day FOMC meetings. (8) Chinese trying to kill inflation-breathing dragon. (9) US government trying to kill US banks? (10) Underweighting Financials may continue to be a good idea. (11) A very short list of upbeat employment indicators. (12) “The Debt” (+).