Rob Viglione

Wall Street Breakfast: Must-Know News

Excellent commentary. Politicians love to come to power in times of "crisis." Doesn't matter that it was caused by politicians, since the incoming ones of course are omniscient and know exactly how to fix everything. The answer is always more regulation, more taxes, and more spending on our behalf. In essence, it is the call to cede increasing power from the individual to public domain. Non of this hog wash will fix anything; rather, it is why we now stand on the precipice...

As far as American's AAA rating...there is no way S&P will downgrade the government's credit rating before the market tears it apart itself. S&P must answer to its masters, and those masters are sitting in Capitol Hill with nice suits spending as much of our money as they can. A credit downgrade would put an inconvenient end to that spending orgy...not likely to happen.


On Jan 14 08:15 AM PrudentMan, CFA wrote:

> Consumer Confidence? Why would anyone be confident in the economy,
> which is only our fifth worst since the end of WWII, when the, Fed
> Administration, Congress and especially Obama all tell everyone it
> is going to get worse? In the previous recessions the government
> pretty much kept their mouths shut and did their job instead of being
> much too vocal
>
> Why are all the Fed members talking so much. In my fifty years as
> a professional investor I never heard so much said by people who
> proved they know so little. If all these rear-mirror economists,
> who are behind the curve, would spend their time doing some analysis
> instead of brushing up their resumes they may have seen the problem
> with credit years ago. Because the non-discounting stock markets
> kept going up all these people were just Pollyandas.
>
> Whey is Obama and Congress so vocal? These Socialists see and opportunity
> in the false "worse receission since the Great Depression, and I
> lived in that time that was exacerbated to unnecessarily last ten
> years, they can make the greatest theft of taxpayer money in history.
> As we all know, those who have the money have the control.
>
> If the Fed Congress and the Administration would have said that the
> Free Market will work things out so property will revert to their
> rightful owner this recession would be over. The promise of bailing
> out loser at the cost of winners is very far from Free Market Capitalism
> as it is Socialist Capitalism. Are problems started decades ago
> and the Fed and Congress could very easily have reighned it in with
> the laws on the books.
>
> I think this is the best time for rational investors support and
> end encourage Congressional Term Limits.