Just because it’s the end of a very long streak, I have to note that retail gasoline prices rose Sunday from $1.66/gal to $1.663/gal following 86 straight days of declines.

In currency, the dollar dropped, largely on the entire auto industry bailout clusterf%$# that the Republicans made, and the Pound fell below the Euro for the first time ever.

I think that the Pound breaking 1€ is actually the most significant thing here.

While “The Street” in London is smaller than Wall Street in New York, it is a much larger portion of the UK economy, and so the damage is relatively larger.

People no longer have faith in the international institutions that are the exemplars of what is called “Anglo-Saxon Capitalism”, nor the governments that are shoveling increasingly large amounts of (soon to be debased?) currency in their direction.