Dogtownsurfer

http://www.venicesurfreport.com

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    • Stay Clear of Traditional Asset Classes [view article]
      MIke -

      Fantastic article. For those reading this anew, like I just did, the Dow was off 400 today, oil spiked $13 in the last two days to an all time high of $138 and SKF was up 10% TODAY ALONE to $122.

      My only comment is to say that Mike you are, indeed, conservative. This "credit crisis" (and why do we call it that? That's like the drunk saying I have a stopping, not a drinking, problem) has already derailed the US economy and we are only beginning to feel its effects.

      Remember the good old days - you know, February -when you could buy gas for $3.00? And when a loaf of bread cost $2.00 instead of its current $4.00? Well, remember them fondly, because until the Fed keeps propping up the illiquid banking system and Congress keeps propping up the insolvent housing market regular guys like you and me are going to take it in the shorts at the pump and the register.

      But you know what? Nobody cares. At least nobody in any position to do anything about it, at least not that I can see. The entire inflation problem could be solved overnight if Bernenke would grow some stones and say "OK - enough. Sorry, bankers, sorry 2% of Americans with an underwater ARM, sorry Wall St.; inflation is killing this country and we are raising rates 100 BPs every month for the foreseeable future until I get my 2% PCE which I have talked about so often."

      What are the chances? Zero.

      Where is Paul Volcker when you need him?

      Gonna be a wild ride.       Jun 06 11:09 PM
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