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<< These are certainly exciting times to be a trader but when you look at
the
bigger picture it isn't pretty, and one has to wonder if we just might be
addressing each other as 'comrade' soon. >>
It didn't take a dirty bomb. It didn't take exploding shampoo. It didn't
take a "first strike". It didn't take a fleet of bombers over the north
pole. It didn't take Al Qaeda.
All it took was a self-inflicted gunshot wound to the head caused by greed.
Greed to get re-elected. Greed to not rock the boat. Greed to get the best
"air-time". Greed to make more than anyone else. Greed to look the other
way.
The idiots stayed in charge (I'm talking all of them, on both sides...this
is an equal opportunity statement). The idiots won. The electorate lost. And
we lost potentially trillions from our future and my children's future.
Sure I scooped up some GS preferred's at 10% yield and some JPMorgan
preferred's at 9%. And I snatched some 5% tax-free yields on insured AAA NYC
munis during that whole mid-year panic. But I have a headache, and a lousy
feeling in the pit of my stomach.
Fundamentals? Whose fundamentals?
I'm sure glad I'm not in the next president's shoes. God's speed to him.
Is this what they meant by "...with a whimper"??
My prediction? Inflation. Stagnation. Another "moon shot" to get us out of
it. Maybe a war? That worked the last time.
I'm just glad we know what we know, but it still feels lousy. "We" really
screwed the pooch this time.
Good weekend all. Next week is a new day.
Gene
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