The market action today was almost predictable from the crap going on in Washington DC. Is it any clearer that investors are seeing that anyone with a hand out is getting a handout?
And when that doesn't work due to the Bush-43 administration still in the White House, like the Big-3 auto makers and its dump cousin, the UAW, say, "OK, we will wait for the BHO administration since we know we will get something then."
It is the dawn of a new age in the USA as we pass from the anneals of history as the last remaining superpower into a socialistic, big government, 80% tax rate 3rd world European-style has-been!
How was that for a long list of adjectives and adverbs. ;-)
Anyway, "let not your heart be troubled..." I believe that things will work out the way they are suppose to work out, just not the way we would like them to do so. Remember, the Creator put laws in place when the Universe was designed, and when we violate those laws, we have to pay the consequences.
A great philosopher said once,
"Greed is the mother of want, the father of despair." (IBNanouk, that's me)
We can't do what we did for the last 30 years beginning with the CRA in 1977, the forcing of rules to change proper underwriting, the manipulation of the free-market by the government, the printing of money to monetize the debt, and bail-out everyone who supported our power run to Washington without having to pay the check when it comes due.
Today, the waiter brought the check, and boy, did people check out!
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