Summer Rally Continues

Another big up day occurred yesterday, and Intel's good earnings overnight is leading to substantially higher futures this morning.

I guess the permabears were wrong. Someone is buying all those chips. I wonder ... companies buying technology to increase productivity and avoid hiring people ... hmmmm. Could be.

Obama has reinforced the trend of government impositions that make people a big liability for companies - not good for job growth. That health care bill makes employment costs look worse as far as the eye can see, particularly for small business. Why force all that cost onto companies ? It simply makes no sense. A company can off-shore jobs and avoid that cost. It can buy technology to produce services in India. Who loses ? The US worker.

I have no problem with a national health care benefit for the people, but it should be funded directly and not foisted onto companies. Get rid of ALL the taxes on jobs and replace them ALL with a value added tax. This would make consumption of imports bear part of the cost. This must be done or US job growth will stagnate for years.

Actions

Krypto has the same sell order for me. It's still a weak signal, but getting stronger. Waiting ...

Stupidity of Billionaires

I heard a billionaire speak ... the press likes us to bow down them like gods. Not me. John Malone said that he respects Al Gore's intellect and that Al Gore really did invent the Internet with his work in Congress.

What a FOOL !!! The Internet was created by the Defense Department in the late 1960s and early 1970s ARPANET - Advanced Research Project Agency Network by MIT and the Department of Defense. I personally remember graduate students and postdocs at Harvard using it in the mid 1970s.

By his own words, billionaire John Malone is a FOOL !

Word of the Day

"Sesquipedalian" - adjective [$10]
Sesquipedalian means 1. long and cumbersome: polysyllabic; 2. tending to use long words.
Sentence: The more vocabulary one learns, the more one becomes sequipedalian. Here's an example of chiasmus (an AB:BA structure) - Using a word like 'sequipedalian' is sequipedalian word usage.

[ Bman stumped the Google spellchecker again :)) ]