A big snow storm approaches yet again, just after the last one melted. The cycle of storms is like the cycle of bad news we have been through lately. The latest attempt at preventing the inevitable storms has boosted Wall Street: the monoline insurance characters were saved! Deus ex machine was cranked down onto the stage and from it issued an angel from Standard and Poor. 'Arise, Ambac, arise, MBIA! With a wave of my magic wand, you shall live again!' And everyone clapped. Next: the Dragon enters from stage left, spitting flames of rage due to inflation from the US and Japan. We look at two US Congress reports about all this trade deficit/global savings glut business.