LOLFED

CNBC’s interviewing President of the Philly Fed Charles Plosser as I type this; interesting points from the interview include that he has finally noticed we have inflation outside of food and oil, that he preferred a “hem-and-haw” answer to whether there’s a Fed put under Lehman, and, of course, his disavowing that anything the Fed has done could possibly have affected the price of oil.

I can has dilution? National City issues 1.2 BILLION (126 million, 1, 260,000, whatever you wanna call it) shares to raise capital.

So this morning there are huge changes in everything tied to the weaksauce lollerdollar, namely gold, oil, and EUR/USD and USD/JPY… because the European banks got caught with their pants down re: LIBOR rates. Credit markets overseas apparently aren’t as sunshine-and-LOLlipops as they would have had us believe. Alas.

Euro reaches $1.58 today on strong, efficient German production numbers, general lack of win in US housing market, etc, etc.