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Recently Closed Positions:
Current MPY: +11.3%
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Commentary:
While news sources are blowing smoke about the new "rescue plan" we would like to call it what it is. It is a $700,000,000,000 stimulus package, funded by taxpayers but pocketed by business failures, who somehow still live in mansions and as Mr. Jim Rogers says, "Drive Mozaraties".
So don't be fooled, the people getting the "stimulus" are holding their cash to protect their rear ends, and make certain that their mansions don't get foreclosed on like a major portion of the customers that payed for those mansions.
So why do we call this "stimulus?" Well, simple, the money is intended to "free up lending", however the only reason lending is not free is the hording of cash that is being done by these rich turds. Sorry that was, unprofessional. These corporate executives. So the money will go to protect their asses ... um.. meant assets. Anyway, it's stimulus, and it WILL dilute the dollar tremendously.
We hate it. However, we are learning to survive these days. There is green in the near future for the market. Is it one week, maybe two? How much is $700 billion going to buy? Whatever it is, it will only last as long as it takes the market savvy to rake it up into trash bags and throw it in their closets. God knows we are going to need it when the dollar becomes worthless and oil hits $200.
So since we are already screwed and can do nothing at all about it I suggest making the best of this. The next 2-4 weeks will be like an Easter egg hunt. Call it the try to get back as much of the tax money you can before the wallets are closed again game. So quick... free up cash... enable margin. Buy whatever, who cares. Seriously, people are getting rich on Freddie and Fanny... are you serious? Do you now what Brits think of the word "Fanny?" ... Anyway, what a bloomin' joke. Anyone who bought those stocks are fools and the government is paying them! So there ya go, be a fool, be an idiot, for however long this $700 billion lasts the bigger the idiot probably the richer you'll be.
Finally, since we have gone so far already, we'd like everyone to take note. 2/3 of the needed vote was provided by the Democratic side of the isle. Despite the spear heading by the president if left to the Republicans this plan would not be going through. Obama was "persuading people" while McCain states: "this is nothing but a tourniquet." Remember this, because it will come up in the future and will likely be remembered quite differently. Once everyone sees what their idea of "rescue" ultimately equates to.
"It takes a lot of hard work by a lot of incompetent people to change the situation." - Jim Rogers ( reference)
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Daily or Weekly BS!
We firmly believe that any expectation that paying the banking gamblers to keep gambling will have a long term positive effect on our economy is unequivocally BS! Of course the wallets have closed up, they won't waste their own money, but Uncle Sam's... wait! That's my money!
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