It’s Time for Obama to Take his Gloves OFF
This could be a Great Day for America, as we all have been hearing for the last three days. But in my opinion it will only happen if Barack takes off the gloves and starts moving outside the box. There is no question that he is building a core administrative group that is highly competent and appear to have the people’s interest at heart. This is good in that it is a 180 from what we have seen over the past eight years.
The past 75 days have been like an eternity. The fat cats don’t think the Obama has the muscle to get the job done and have been voting with their stock trading accounts, the S&P 500 is down 17 percent since election day under their liquidation. This will be good if Obama gets in gear and leaves them sitting in cash. In addition Treasury Secretary Hank Paulson has helped the fat cats during this period by sending out a pile of cash to his buddies, not to where it was supposed to go. That mode of operation will change.
The big banks, the ones Paulson bailed out, are the biggest problem for the economy right now. The, “no one is too big to fail ” should be abandoned and we should all move on. This is not the time for Congress to try and legislate laws to clean up the balance sheets, that should have been done in the good times, but we know the good times were not the good times, but a time of bubbles and mirrors that look like good times.
Everyone likes to look back at Roosevelt and the NEW DEAL as the template for what to do now. In reality the NEW DEAL only stopped the bleeding, World War II was what brought the economy out of the whole. That should be the Template for what we do to get out of this hole, not start a War, but invest in America with no restraint in the only area where there is a real need and a long-term payout, Energy Self Sufficiency.
We are not making any changes in our Portfolio for the moment as we wait to see what happens. We are obviously staged for an upward move based on our optimism that competence can win out over in-competence and we really will get Change we can Believe In.
At Friday’s close the NAV on the EMA ETF Fund was 985.
8:19 AM CST