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DITTO JYL...also NASDQ has held up quiet well.

I will tell you once the 8000 barrier was breached I got REALLY SPOOKED...

The Obama Administration has done NOTHING to calm the markets and inspire any confidence. It was Tim Geithners speak for the admin that started this market breakdown. Clinton even told Obama to speak optimistically

here is the list:

1. Greasy laden Pork for a Stimulus Bill...don't they realize how serious this is and if nothing else they should have kept it lean and mean for show.

2. Geithners LONG awaited speech on the Banking Crisis Bailout...NO SPECFICS just parameters....we need some concrete here, something we can bite into..not just more campaign style rhetoric

3. The Mortgage Plan...not far enough or moral hazard...again this didn't fly too well.

Here is the dime..You don't need to get it exactly right, ANY program is going to work about as well as the next. It is largely psychological..it is about taking ACTION and not dithering about. Things have a way of working themselves out, one way or another.

This is not Liberal or Conservative speak, this is reality. This is the perception of the Obama admin. programs so far on Wall Street.


Now we have had a lot of spin about Obama, and how great he is. Well so far the record don't show it.



BTW: As a show of confidence Gold has gone from about $750-$800 an oz to a GRAND an oz....this is hedgeing against oblivion.

There are NO LOW risk investments today...except perhaps Treasurys aand there you are virtually putting your money in a mattress.with a 0.0 % interest rate.

So far the destructed investments are

1. RE...dive dive dive
2. Stock Market...dive dive dive
3. Bonds..
a. Interest rates.dive dive dive
b. Risk of Hyperi nflation wiping out your value...sky high
4. Gold...High risk of turning on a dime and falling back to earth
5. Hard Assets..Porsches...low liquidity turning into cement
6. Cash..cash is king, but with hyperinflation you might just have toillette paper.

It would be foolish to suggest that these were not always REAL risks, however we are now in an era of huge swings of the pendlum.

I will probably have to talk about Chaos sooner or later..nothing is ever under control it is ALWAYS just an illusion, the swings of the pendulum are just less so it seems like it is. Can we say Brazil, Mexico and Argentina...Now we are getting a taste of reality in America. THe future going forward is now where we are going to have these massive swings...and things are gong to be unstable maybe forever. What the government is trying to do is stabalize the system, with every menas at its disposal. I do hope that they will be able to accomplish the task. I suspect that they will come to some sort of equilibrium, BUT it will be a balancing act and one slip and back we go.