Fat Poisoning
Stocks fell today on the lack of progress on helping the financial system out of its dilemma.
Bond interest rates went up, and this is a very dangerous trend happening right now.
The Dollar, oil and gasoline went sideways.
Gold recovered a little of its recent loss. It will be interesting to see if gold can hit a new recent high in the next couple of days.
In the news today……
No real news to move markets today.
President Obama is using fear to get Congress to pass the Stimulus Package. He says there will be a catastrophe if it doesn’t pass. Don’t believe it. What’s in this bill? So much pork that we’ll all die of an overdose of fat poisoning. The Stimulus Bill is Congress doing it normal, usual, corrupt thing – lots of earmarks. This is not the change that the nation voted for. Will the President lead from the front and set an example by demanding the removal of most of the junk in the bill?? He’s said a lot about how he doesn’t like the bill, but what will he do about it? Actions speak louder than words.
Here are the last numbers:
Dow Jones 30 Industrial – 7957 (down 122 points)
10 Year Treasury Bond – 1.91% (up 0.07%)
Euro – $1.2854
Gold – $902 (up $10)
Oil – $40.32 (down $0.46)
Gasoline – $1.22 (up $0.05)
