Wall Street Bailout Eliciting Boos All Around

Conservatives, such as Bill Kristol, don’t like it.

Liberals, like Paul Krugman, don’t like it.

And I don’t need a poll to tell you that most Americans  think this is the stinkiest piece of shit ever.

Today, we find the markets don’t like it either.  Gold continues its meteoric rise while oil, on a delayed reaction, mimics gold’s huge one-day move a week later.  Oil is back over $125 — pretty incredible if I stop to think about it.

During times of crisis, everyone floods the media and Internet with their opinions and commentating while readers madly vacuum it all in, hoping to discern the next wise move.  I have tried to operate (and blog) in a proactive manner as opposed to a reactive position.  During the crisis last week, I didn’t post too much.  Why?  Because once the crisis hits, it is usually too late.  The blog post readers needed to see was my commentary on Sept 15th — anything afterward is basically just bedwetting of the type you can find in droves on Seeking Alpha.

Needless to say, I am sickened by this bottomless bailout/handout ($700B is just the max holding limit — Treasury can then sell securities at a loss and reload up to $700B over and over again).  If the Dems do not show some spine in this situation, I will re-register as a Decline-To-State and Obama may not get my vote.  Later this evening week, I will post my outlook for going forward, whatever that’s worth.

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