I feel no panic about Europe.

The rumbling Friday morning was not the latest of the Spring storms blowing through town, but the monthly report on employment coming in well below estimates. 

In a light week for economic data, we can expect more attention to elections both in Europe and the US.

Double ententres abound with an album by the Doobie Brothers entitled “What Once Were Vices are Now Habits”. Over 35 years later, you have to wonder what our leaders are smoking to repeat the mistakes of the past two years and expect different outcomes.

There are lies, damn lies and statistics or in the case of Wall Street, earnings estimates.