The European Summit continues to meet today to find new ways to kick the financial can down the road as part of the extend and pretend (EPP) masquerade of stabilising the euro-zone and saving us all from recession or worse. More summits are our only guaranteed Christmas presents as markets continue to move sideways.

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The long, the short and the steady as she goes crews need to abandon the look back over the shoulder of euro-zone crises and US Super committee failures to progress plans for the second half of the financial year.

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Smart companies will need to reach out to their premium customers in the next few weeks to generate high tech and holiday purchasing plans, to overcome the mid-year slump in sales following months of threats of Greek defaults, US debt crises and media beat-ups that generated higher than average equity market volatility.

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We must now be patient and wait until November 24 to get the results from the head butting, recalcitrant and entrenched political disputes to be determined by the US Super Committee’s patchwork response to the US debt crisis. This will undoubtedly keep the media in a frenzy and the markets in free fall until the deadline on default reaches its climax.

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Media advertising’s Harold Mitchell suggests that there is a lag between interest rate cuts and their effect on retail spending that may take over a year to come through to the cash registers.

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After a confrontation with Merkel and Sarkozy made it clear that the question was whether Greece remained in the eurozone and that there would be no payments while Greece remained divided, the debt deal referendum quietly has been shelved.

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Australians who have heard Julia Gillard's and Wayne Swan's lectures to the Europeans to follow our lead and get on with a solution, have already moved forward and started planning to have a very merry Christmas and a much more prosperous New Year.

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With Wayne Swan desperately seeking ways to stay "determined" to return early to surplus and Joe Hockey encouraging belief that we are heading for a rash of electioneering before the nation can determine its investment future, "uncertainty" is becoming the new financial media filler.

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This week has seen the loss of two innovative, creative and entrepreneurial mentors who showed that real jobs are based on vision, values and ventures of founders of smart companies.

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Despite all the talk of gloom and doom all the fundamentals are sound.

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