Just a quick note tonight.
I have a busy day tomorrow. I will have full coverage of the FOMC meeting tomorrow evening. There are rumors floating on Wall St that another QE may be announced by the Fed. I expect stocks and bonds to be extremely volatile tomorrow.
I will have a few comments below around the anger that's being expressed by Americans all over the country at various town hall meetings regarding health care. Here is an example of a town hall meeting in Lebanon today that was conducted by Sen. Arlen Specter:
I gotta admit folks. My first thought is the anger seen here is not really about health care. In a perfect world, free health care sounds great! Right?
I think Americans have had it, and they are using these town halls as a way to release their anger and frustration over their rapidly deteriorating standard of living.
The economy is rapidly collapsing in America despite what the media is telling you. Unemployment is in the upper teens when you include all of the Americans that have lost unemployment benefits or have simply given up looking for a job.
There is no economic recovery. We are just seeing less worse numbers following an economic collapse in GDP. "Less worse" should be expected after such a sharp contraction in the economy.
Losing ONLY 250,000 jobs is a not a green shoot despite what CNBC tells you. What makes me laugh is unemployment supposedly dropped when the economy lost 250,000 jobs. Ummmm....Sounds like the math skills of a 2nd grader if you ask me.
I am sure there is some mumbo jumbo green shoot spinning reason why the unemployment rate dropped during a month in which we lost a quarter of a million jobs. I just don't wanna hear it, and apparantly after seeing these town hall meetings, America doesn't either!
The Bottom Line
CONgress better start listening to their constituents or these town halls will start to get increasingly more violent.
The citizens of this country have had enough of the lying in Washington. They realize that this country is being destroyed by the politicians. Health care is simply a symptom of the disease. The disease is debt and out inability to pay it back.
I detect a serious underground movement that's about to turn Washington upside down.
The politicians better start listening because the torches and pitchforks are right around the corner.