Today, oh the pessimism
So much for the Obama bottom. Yet,I remain optimistic. There was good news today...better then expected retail sales, WalMart reported more than 5% increase year ever year comp sales. Other retailers who reported lower sales were better than expected. The ECB and England cut interest rates by 0.5%. Factory orders were better than expected. Even jobless claims were better than expected.We are not talking great times but there is a trend. So, even though the Obama bottom did not hold I will stay with it.
So,why then a 4% drop? Citi group dropped to $1.00 or less.GMmay go well go bankrupt.This is old news. The words being used are "concern","worry" and "fear". The leaders of industry are no longer leading. The masters of the universe are slaves to rumors. The groupthink has decided better to ignore all the good news and follow the rumors. Aren't business people supposed to be hard edged nuber crunchers not rumor mongerers. Maybe John Stewart had it right last night skewering CNBC. Worth finding it onloine if you have not seen it.
There was one other concern. The Chinese stimulus may not be enough. Any day that goesby without the government,US or somebody else's doesn't throw in more money, the market tanks. Of course,when they do,the choruses of Socialism start. Obama should stick with his plans.He has them. Wall Street is absolutely out of ideas, no leadership.
Cramer:
He went ballistic tonight blaming Obama for the fall.Yesterday,he was calling for the rally. He shouldjoin leagues with Rush Limbaugh,his new BFF. The way to deflect how terribly wrong you are is place the blame elsewhere.
Laura Rowley:
Excellent piecee on Yahoo Finace, today....where is allthe AIG money going? CDS insurance is being paid. Who is receiving the money (our bailout money).
CNBC:
They simply cannot find enough people who are negative enough. 5000,anyone,4,000 and 3,000. Stop falling all over yourselves. Don't get me wrong I am astrong proponent of capitalism and I certainly do not agreee with the popular position that Obama is a socialist. Perhaps another day.
BUY
So,why then a 4% drop? Citi group dropped to $1.00 or less.GMmay go well go bankrupt.This is old news. The words being used are "concern","worry" and "fear". The leaders of industry are no longer leading. The masters of the universe are slaves to rumors. The groupthink has decided better to ignore all the good news and follow the rumors. Aren't business people supposed to be hard edged nuber crunchers not rumor mongerers. Maybe John Stewart had it right last night skewering CNBC. Worth finding it onloine if you have not seen it.
There was one other concern. The Chinese stimulus may not be enough. Any day that goesby without the government,US or somebody else's doesn't throw in more money, the market tanks. Of course,when they do,the choruses of Socialism start. Obama should stick with his plans.He has them. Wall Street is absolutely out of ideas, no leadership.
Cramer:
He went ballistic tonight blaming Obama for the fall.Yesterday,he was calling for the rally. He shouldjoin leagues with Rush Limbaugh,his new BFF. The way to deflect how terribly wrong you are is place the blame elsewhere.
Laura Rowley:
Excellent piecee on Yahoo Finace, today....where is allthe AIG money going? CDS insurance is being paid. Who is receiving the money (our bailout money).
CNBC:
They simply cannot find enough people who are negative enough. 5000,anyone,4,000 and 3,000. Stop falling all over yourselves. Don't get me wrong I am astrong proponent of capitalism and I certainly do not agreee with the popular position that Obama is a socialist. Perhaps another day.
BUY
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