Tea Party, Obama, and Apple…………….with Fed Update at 1:05 PM CST
As we await Bernanke and the Fed to talk to us today, maybe it is time to take a look at bigger things like the fight to make the middle class stronger and the Apple effect, I’m talking about the iphone 4-s.
A week and a half ago, before the South Carolina Primary the following article appeared in the New York Times.
I have mentioned before that I was a Goldwater Republican supporter in 1964. I was in college, it was my first election, I read his book “Conscience of a Conservative” and I was a young Republican. Of course I grew up on a relatively large grain farm in Illinois and we assumed that their were no Democrats who tilled the land, they all worked in factories and supported Unions. Why do I tell you this, mainly because in 2003 to the surprise of many of my conservative friends I got involved in the Howard Dean grassroots movement and graduated to the Obama movement later. The reason was the grassroots direction that spoke to me in a time where I saw an Economy out of control. After reading this NYT article I better understand my infatuation with Goldwater. It was a belief in a need to protest and change the country and was rekindled by Dean 40 years later.
Now with the State of the Union message Obama is taking up the battle of the middle class. In my opinion he needs to get back to his roots and get rid of the people in his administration and election group who coddle the big money crowd. So if he walks the talk he can win again, otherwise Gingrich will walk rings around him.
And Apple. For years I refused to buy an Apple product because to me it sold products that promoted frivolity. In the past few months my wife said that I should have an iphone like many others in the family and I relented. I have to admit it does make me cool and it does a lot of great things. I love talking to Siri and the picture taking is remarkable, I take way too many pictures , so many that I have to download them to my computer and some day will have to spend a month sorting and deleting most of them. So to the frivolity issue, I still believe that the products because of their capabilities push users to waste a lot of time, and I don’t even have games like Angry Birds on mine. Eventually this could lead to a decline of the world. Just kidding, but I am going to try and short Apple stock this morning on the rally caused by my purchase.
Apparently the FED agrees with us that this will not be a great year for the economy and say that they will keep interest rates low through 2014 if they are not successful in improving the economy before them. OK so what is new here? Nothing that I see. No QE3 in spite of the QE3 lovers trying to spin the low rates as QE3. As such here at $ 1700 on gold we are increasing our short position from 65 percent to 80 percent of our equity. Next we will see what Ben says in the interview in 10 min.