Iphones, the last Hurrah
While Rome burns, everyone will be able to call each other and look for restaurants that are still open. The current knee-jerk rally in the stock market is a clear indication that most people don’t get it. Washington is wasting time debating the F-22 while the threat to this country is next door, the unemployed. It is no secret of how a corporation can boost the bottom line while revenues are dropping, layoff workers and let the government take care of them.
Most of the stimulus money that the Fox network is screaming about is still sitting in accounts waiting to be disbursed. Black-topping roads seems to be as far as we have moved, and is probably the only reason that crude oil rose this year. The Green Revolution is on hold, nothing close to a NASA type initiative is on the radar. I’m sick of it. Maybe a real hum dog depression will bring Washington and this country to reality. The real underlying problem for the country is that that Reagan and Bush ballooned out deficits during the 1982-2007 expansion and bubble, you are not supposed to have deficits when the economy is growing. Now we need deficits to cushion the recession and everyone is screaming. The unreality is unreal. We will know that the economy has hit bottom when top-dog professional athletes beg to get $ 500,000 a year.
No change in positions. The EMA ETF Fund Nav was 1124 at yesterdays close.