It must be my neurotic tendencies that seem to always look for the under dog in the face of overwhelming odds.
With Rabid Democrats jockeying for position in Washington, getting their kids in the best schools, where will Michelle decide to send her daughters, the new FIRST dog etc. How trivial, how mundane, how scary!
Oil at $58... shouldn't we be saying: "Finally relief?"
PACs are still intact. I haven't seen Washington office space prices fall. I would suggest that for 22 Republicans that needed to find other employment, 25 Democrats have already found a spot.
So this is going to be same old, same old, or is it going to be worse?
DJIA is telling you worse: Why?
Simple: Toxic investments are still out there contaminating a shrinking pool of clean capital.
Current and future Government solution: Keep pumping new money in a tank of rapidly growing E-coli infested water and telling banks, corporations and consumers to drink from.
"DRINK UP DRINK UP" says the government!
Right, the banks are asking for clean water but refuse to lend it out.
Corporations are drawing down the credit lines and using up the clean water, the banks are desperately trying to hold on to. Treasury reacts by offering to invest clean money into bank capital but does little to fix anything as the toxic waste is deep inside the banks' books.
Consumers have no access to clean water and are trying to have the government sponge up their swamp upside down mortgage money...
Government has to stop trying to fix everything. It's not its job. If anything it has to reassure the people that the toxic stuff is segregated and keep putting it back in our taps!
OK enough with the imagery!
ENEMY NUMBER ONE
CDS, CREDIT DEFAULT SWAPS , are the number one enemy of all. I, for the life of me, cannot understand why they are not made illegal like crack cocaine. The right to buy a death warrant on a corporation should be rendered illegal and anybody owning them or issuing them past a set date is liable for prosecution, jail terms and destitution... Explain to me why American taxpayers need to shore up AIG? IS that really doing much... DJIA will go to 5K on its own, the quicker the better...
ENEMY NUMBER TWO
PEOPLE WHO DO NOT FOLLOW THE RULE OF LAW: Nobody in Washington respects the laws. You can't get half the members of the administration to uphold the laws of the constitution they were sworn to uphold. Treasury doesn't answer the press which implies taxation without representation. Justice set a partisan agenda. Covert operations of dubious merit get secrecy seals. PACS will fund almost anything in 2009 , unchecked and undeterred
ENEMY NUMBER THREE
USING TAX MONEY TO KEEP DEAD COMPANIES ON ALF (Artifical Life Support): I listened to CNBC yesterday morning. The anchors were all saying that they needed their big SUVs to get their kids to school. They were all too happy to drive their gas guzzlers and lamenting that nobody wanted to buy a small car made by GM. Conveniently forgot to mention that Mercedes Smart car is on triple shift production. The ego of financiers are the worst enemy of taxpayers.
Meantime Corrupt Washington will write even dumber checks that will end up 30% inflation next year.
THE REMEDIES
Come on guys, have some cojones!
PICK THE LOSERS NOW! ANNOUNCE THE LOSERS EVEN SOONER!
STICK TO A GAME PLAN, KILL OFF THE BAD WEEDS
A ray of hope Paulson said something today tht made sense ( bet you he repudiates it tomorrow)
http://www.globeinvestor.com/servlet/story/RTGAM.20081112.wpaulson1112/GIStory/
PREPARE A POOL OF CLEAN WATER
PROVE TO THE PEOPLE that in 2009, they will be richer, that their currency will be worth something and EVEN if their houses are worth less, they will feel secure and that they will not have to hear partisan fear rhetoric at every turn. 8 years of fear mongering is enough!
Maybe in 2009 we can go for a nice swim with some friendly sharks!
DCW
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