The markets are closed today, Monday February 16, for the President’s Day holiday. Please feel free to use this sapce for your comments and observations.
Intraday Commentary ~ 2/16/09
– February 16, 2009Posted in: Intraday Commentary, Stock and ETF Models
just an interesting read here, not that I totally agree.
http://online.wsj.com/article/SB123457303244386495.html
Yea, can’t say I agree with this article either. I think the Great Depression analogy is very appropriate. What if the bank failures so far are just the beginning? Most of our financial system is insolvent. If Obama was sugarcoating the current economic condition, that would be the catastrophe.
Who was it in government that said last week, — the biggest threat and danger to America is no longer terrorism, it is worldwide civil unrest —
I did not put it in quotes, because I can not find the quote. I do not recall the exact words but it scared me pretty good.
What’s to disagree with? He provides statistical evidence that things aren’t as bad as they were in the 1930s. Maybe they’ll get worse. We don’t know yet.
As for Obama, there is absolutely nothing there to suggest that these policies will be any more successful than Bush’s. If you strip ideology aside, both are Keynesian in their approach. Obama’s “sky is falling” rhetoric is just as bad as Bush’s pollyannaish hooha. The fabric of society is unraveling at a rapid pace. I’ve cut back my purchases of just about everything, except shotgun shells. Winchester and Remington both had good quarters, I’m sure. I’m equally sure that a leader who runs around yelling “the sky is falling” is part of the problem. I’m still rooting for the guy to succeed, but my left brain tells me it ain’t gonna happen. My shotgun shells are a great hedge against what I fear is coming. If I’m wrong, I’ll use them to shoot skeet.