As with all things in ‘Zombieland’ there are no quick fixes.the huge sigh of relief coming from the World’s markets after the Greek vote was tempered by the Spanish bond prices blowing out to a new record. There is no doubt the crisis in these Zombie states will take a huge political and economic upheaval to correct years of imbalances. It will take time and the lost generation of Southern European youth will be condemned to oblivion for a long time. Elsewhere in the real world of the G20, it looks like Putin and Obama are facing off over Syria and once again we have little in the way of fresh ideas to solve the World’s ills.

One thing that is for sure is we cannot rely on China again and in fact the sad fact is most of the G20 are broke!They must love being lectured by Julia about how to run an economy!!!A Welsh Ranga telling them how to do it..unthinkable..merde! The only thing they can do is hope the Central Banks have the printing presses ready to go and try to push the problem down the road. Its called kicking the can!Or QEIII

Yesterday’s rally in the ASX 200 was really nice to see and it built throughout the day. Volume once again was an issue but that may be the new ‘black’ of equity markets.

Today we will ease back a touch with the SPI down 14 overnight but we may try to consolidate before pushing back up again towards the 4200 level.

The big news yesterday was from Fairfax..at least that was the big news in the Fairfax media..Gina looks like she wants three board seats… one for her and one for her friend..She needs two herself for obvious reasons. The moves to sack journalists and push forward with digital is long overdue but does seem to be a touch of Barbarians at the Gate for my liking..the demise of newspapers has been inevitable for so long it’s hard to feel much sympathy for them as they have been very slow to move. They had chances to use their rivers of gold to move into digital advertising like carsales,real estate and jobs but they have let others carve their pie up and they are now playing catch up. Lucky for them Gina has come in to buy 19% otherwise the stock price would be even lower.

I am still relatively happy to sit on the sidelines..its going to be a long winter downunder and the market will bounce around on thin volumes and news from Europe..at some stage it may get ugly if Spain continues to spiral down and the Greek situation is far from over..and then there is Italy..if the World were a PC we would just hit reset button and start again but then again if it was a PC it would probably fail to reboot!Should be an Apple but then it would be too expensive in the first place!

Things that make me go mmmm!

1.The Voice is watched by 3.1m people..Channel Nine will be thrilled..

2.Fairfax Media has now been christened ‘Notfairfax’ and the Sydney Mining Herald has been born!

3.faceplant rallies in the US ..big winner in the last three days..

4.Vix(or fear index in the US) takes a big hit last night..down to 18 after Greek vote.Riddle me that one Batman!

5.According to Liberal Senator Brandis the reason the Fairfax jobs are going is the Carbon Tax!!Good one Goerge!

6.At least Spain beat Croatia in Euro 12 and Italy beat Ireland!

Brilliant statement from G20 urging Europe to take all needed measures to fix itself..so Europe tells itself to fix itself..really..haven’t they thought of acting before…its really all about telling Merkel what she needs to do..but she wont!

More cash printing is the answer…sorry what was the question again.

See you then