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Tuesday, May 12, 2009

The Big Casino

Feeling a bit frustrated?
A bit constrained? 
A bit confused?
A little angry?

Bear market rally? 

The downward spiral has slowed. Is it a bottom?

 

A lot of folks rolling the dice on the big casino appear to believe this economy now has traction, or are afraid not to believe.

 Dig deep into the data: the data is ugly.

 A recovery with sparse job creation?

A recovery without profit?

A recovery with many states facing huge financial hurdles?

Debt upon debt. Someone will have to pay.   

Investors are racing into the pile to purchase highly diluted financial stocks. Financial institutions whose future is predicated upon “a nimble Fed and Treasury.”

I checked the definition of "Nimble." Helicopter Ben and 'Timmy' might make the grade, but I harbour suspicions.

Those of you older than 65, who can recall any previous “nimble” government agency, step forward.

I fear we are being manipulated once again. Lied to once again.

Most of us, of rural roots, were taught “Watch what they do, do not listen to what they say.”