Dopey, how cool you are with the debt problem in China.You're a...

Dopey, how cool you are with the debt problem in China.

You're a wonder, honest.

But all I was doing with the old cross eyes bit was forewarning of the problems rushing our way.

Now is a 'revised' timetable of the EZ problem:

""We were hoping to hear more at the ECB meeting on September 6, but it now appears the ECB wants to wait until after the German vote on whether the ESM is even constitutional, which takes place on September 12. A ‘no’ vote here will almost certainly smash risk assets like EUR/USD and equities, however while this is a possibility, it is less than 50%. A ‘yes’ vote is a more likely scenario and would throw the market’s attention over to the October 4 ECB meeting when we should get clarity, from which the ball will be thrown firmly into the Spanish government’s court to request assistance. In theory, the longer Spain waits to request assistance, the more concerned the market will become and risk assets struggle. On the same day as the German vote we also have the Dutch election, which could throw up some fireworks, especially if an anti-Europe party is elected.""

What's your poison? But then they have cleverly drawn out the markets until the meeting early October and not a printed euro or USD in sight.

But quietly in the shadows, China's economy unwinds as does our mining exports.

But then wheat looks to be in for a substantial price hike and the winter crop looks good.

This looks like a game of averages with a net win or loss. Either way the aftermath is ruinous.