There are 20 trading days in a month and here we all are sitting on our hands waiting for the FOMC and their helicopter pilot to deliberate over the base rate. How did we get in to such a silly situation? Anyone who has ever spent more than 1 hour in a meeting knows full well that the attention span starts to wane after about 40 minutes. Why can’t these guys think about it before they get there, debate for an hour and fix the rate for at least 3 months if not 6 months. If they can only see 4 weeks ahead then surely we have employed the wrong the people.

The market stagnates for 2 days while these guys deliberate, not to mention the time wasted trying to second guess the result and the post mortem afterwards. Its at least 10% of the available trading wasted every month. I would be disappointed if my kids dithered as much as this.

Is it a Boy? Is it a Girl? No, no, no, it’s a great big quarter pointer. Wow, now was that worth waiting for?

Thank Goodness for the World Cup
28 June 2006