Election Day

A few years ago in an analysis of American political choices, a writer concluded that American voters tend to choose the person whom they think will best deal with the most important problems the nation is facing. So in 1980, voters elected Ronald Reagan to deal with both the Soviet aggression and expansionism as evidenced in the Afghan war, and the economic sclerosis that was permeating and stifling the nation through high taxes and excessive regulations.

Ronald Reagan proceeded to perform magnificently, creating the base for the boom of the last two decades of the 20th century and the conditions for freeing billions of people from oppressive Leninist communism.

So today the public must choose again in a time of serious economic problems and an insidious terrorist threat.

In 1864, the public chose well in wartime, re-electing Lincoln. So good decisions in times of crisis are possible. A problem today is the pervasive propaganda war in the press has prevented serious discussion of issues. People today really have no idea what Obama stands for except the vacuous notion of "change". So they read into his platitudes whatever they want to hear.

On the other hand, John McCain is an honest man who knows how to make decisions and lead in times of stress. And he favors freedom. And sensible reform. So to me, he's the obvious choice.

Actions

Doing nothing. DRYS reported good earnings and solid cash flows are locked in for several years. The stock popped, but is still quite depressed. Of course if the world's economy ends and we return to a barter system, it will surely suffer. So it's quite risky. My play in the shippers is EXM, DRYS and GNK. These are all very depressed in stock prices, but have reasonable debt levels and substantial contracts locked in at favorable rates. All are high risk, but have very high potential returns.

Quote of the Week

From "The Impossible H. L. Mencken", page 597 re the Scopes trial.
"The sole commentary of the sardonic Darrow consisted of bringing down a metaphorical custard pie upon the occiput [*Word of the Day] of the learned jurist."

Word of the Day

"Occiput" - noun [$10]
Occiput means the back of the head.
Sentence: In six months, will American voters be patting themselves on the back for making a fine choice for President, or rapping their occiput as they puke, realizing what a foolish vote they cast ? Time wll tell.