Things have been very busy so I apologize for being so quiet.
I just wanted to hop on and give you my take on what happened in the markets this week.
IMO, this is all about the Mass. Brown election. This is a horrifyingly embarrassing loss for the democrats and President Obama obviously took notice.
Many believe this was a vote against nationalized health care. I say that's a bunch of hogwash! This was a political vote against Wall St and their obscene profits.
The Democrats realize that the public is totally against their bailout of Wall St and their continued Ponzi spending.
Folks, we are BROKE! Trying to fix health care when you are $13 trillion in debt is flat out moronic!
The economists continue to talk about our great "recovery". Meanwhile Rome burns in the process: Unemployment is spiralling out of control, housing prices are crashing, and the serfs are getting angry!
I am not surprised by the elections. How stupid does DC think we are? I have been screaming about this economic fraud for years! It appears that Main St finally took notice.
The Bottom Line:
Expect Main St to trump Wall st for the time being. The people are angry and we have elections this November. Any Democrat voting for a bailout in 2010 is just asking to get his butt kicked by the voters.
This of course is very bearish for the markets. If Bernanke doesn't get re-appointed(which is very possible) the market is going to panic.
Be careful out there and make sure you are diversified. This is an extremely dangerous market.