Wednesday, July 8, 2009

In the Mud

The market is stuck in the mud, waiting for a tow truck in the form of some more good news about the economy. That will come, but when ? More real buyers are needed to overcome trader bearish "bets". Now we see the cost of the poorly designed Obama stimulus plan. Perhaps the word, "designed", overstates its organization. The Obama plan was mostly a hodgepodge of bureaucratic grabs at money. The hogs at the trough in DC elbowed out the real job creation spending.

The roads in Massachusetts are a mess of potholes, yet repair activites seem rare. What has been done for Internet infrastructure spending ? Talk.

China put its money to work quickly and has gotten results. DC dances around the maypole.

New tax increases on the "wealthy" are talking points to "pay" for health care.

New "carbon" tax would be huge over time, but it's just tilting at windmills. [That metaphor comes from the fine book by Cervantes, Don Quixote.]

The Pickens wind farm craters.

France gets 70% of its power from nuclear power, yet the US can't just copy France for a realistic, long term energy program.

G8 dopes talk about global warming - such hot air.

China top dog goes home to deal with rioters. Gosh, and yet talk of a new global reserve currency abound. I dealt with that nonsense here a few weeks ago. But the talk does probably scare off some real investors.

CA heads to oblivion. The pain to suppliers of services & goods to the state will soon kill businesses.

The Fed still does the job, but has just one more mission. Dear Ben: put together a plan to fund commercial mortgage refinancings. Plenty of good loans to good buildings with adequate income can't find a refinancing takeout. Your aid is needed. I had thought the TALF would do it, but the details are lacking. A five to seven year loan term is needed.

Eventually this will get worked out - maybe the fall. But the sloppiness of Obama's efforts to date are hurting now.

ISM data does show improvement. So not all is bad. People want to work to improve their lives. We still have that tailwind, unless government screws them too badly to wipe out hope.

Markets

I wait in cash in Obama Fund. Fido Fund is about 110% long. At 830 on the S&P, I will start looking again unless the news flow changes sooner.

Travel

Tomorrow early I drive to Ohio for an stay of uncertain duration for family matters. I do not have Internet access their with any consistency, so will not post new blogs until I return.

Word of the Day

"Provender" - noun [$10]
Provender means 1. dry food for domestic animals; 2. food, victuals.
Sentence: The big hogs in DC are getting most of the provender from the stimulus plan, so growth in the herd of common people is weaker than it would be had the food been better distributed. Thanks, Obama, for doing a lazy job tending your flock so far.

28 comments:

Spin-em said...

A-ROID battin at a .384 clip since a certain posters rants.... "merci budee"

Yukillis...not so much...enjoy watchin Tex Kevy.....Mets..no runs again..thats OK ....just sit and wait for your guys to feel better...try some tea.

Spin-em said...

pope said a hail mary.. gathered up his courage to open up his mutual funds statement over the weekend....not good...he'd like SOMEBODY TO DO SOMETHING!!!...CAN WE GET A WORLD REGULATOR???

Frosty said...

Bunky where is the SEC...almost a year since the temporary ban on fin short sales, they have had more than enough time...a piker is blamed for the last run in oil yet they dance around the may pole...I see new 3x etf's UMM DMM that allow you to bet on, well nothing...the price change in housing, what is this, vegas.

mfl59 said...

Best wishes for your trip to Ohio Bunkerman....we'll hold down the fort for you here...

Bunkerman said...

SEC is comfortably resting in Wall Street's pocket .. as usual.

Bud said...

Bman is today just beefers trying to create panic ??

Bud said...

FCX dark

BX dark


CYOU dark


nailed it !! sharkinvesting so hot right now


danke vielmals jim !!!!!!!!!!!!

Bud said...

great sales Bman..........beefer style


long term long only investing my ass

Spin-em said...

whats with postin these douchebag past post trades...post em ..we'll do the research......

mfl59 said...

FCX down 40 cents...awesome trade jim!!!!

Bud said...

spin lmaooooooooooooooooooooo



'we'll do the research'

Spin-em said...

MFL..play the 8,16,2 Kentucky Derby triple straight...$2...should pay 50 thou...make up for Baggo..lol

mfl59 said...

Tomorrow night is rematch night Spin....and it will be held at the local bowling alley....no pins...straight up...lmaoooooooooooooooooo

Spin-em said...

hope Big Al's spatula'sready...Gunny comin to gitcha!! mernystyle

Bunkerman said...

this is not panic.

Probably beefers who bought lower taking profits. lolol maybe they read this blog !!!:))

No real buyers in sight - need news. Hence we go lower.

Bunkerman said...

I guess Blabberg reads this blog ... talking now about the H&S I wrote about.

I guess I wasn't so late on that one after all.

;)

Spin-em said...

"your welcome bunk"

mfl59 said...

"Way to go Tom"

Spin-em said...

"thanks mike...Im here to help...I like to help people...thats what its all about pal"

mfl59 said...

"Hey Sal, I said extra starch, you fool"

Spin-em said...

he wouldnt use his first name...only when ya pay $500/month

mfl59 said...

True, Sal is way beneath him socially....

Spin-em said...

just hope its not prison rules again while bunks away....lets keep it classy San Diego..looool

Bud said...

prison rules


lmaoooooooooooooooooooooooooooooo



PS........bring on the philly fbi bitch!!!!

Bud said...

ace you really are douchebag !!!


no surprise though........closet yankee fan

mfl59 said...

Feb 2010 indeed....

bring "jim" as well...might feel like slapping him around as well...

"I'll leave the lights on"

mfl59 said...

AA fire!!!

WHat recession???

Frosty said...

Chinese stockpiling in recent months. Here are the monthly import numbers in thousands of metric tons:
Nov. 2008: 54.48
Dec. 2008: 68.90
Jan. 2009: 56.36
Feb. 2009: 60.07
Mar. 2009: 147.18
Apr. 2009: 439.90
May 2009: 331.74

Let's hope AA's losses were less-than-expected in such an environment. Unless China plans on wrapping the Great Wall in aluminum foil, you would have to think global aluminum demand will be declining this quarter.