Trent Tucker

Now Is the Right Time for a DRIP

Gents, There is a great release in liquor and poetic levity.

You rogues, you rascals, you Wall Street Dancers

2005 was alive with jive
and 2006 was all high kicks
2007 was feeling just great
turned out it was bait
for what came in 08
So we voted for the line
that leads to 09
So what say in 010
don’t refinance again
Because in 2011
It has to be heaven
As much as I’ve delved
Nothing else rhymes with 2012

To sum up 2008, let a banker write a bad poem and no one cares. Let a poet write a bad check, big difference. Or maybe Richard Armour described it better, “That money talks I’ll not deny. I heard it once it said goodbye.” Eighteen months at most, probably less, and gents, Wall Street will be financing the purchase of what they just bankrupted and the Dow will be climbing to 14,000. The free market relies on victors not victims. Government relies on victims and distorted policies create opportunities for speculation. Freddie Mac and Ginnie Mae were distortions which melted down because it attracted speculators who did a 1035 rather than pay capital gains tax till there was no 1035 escape left. Meltdown, fiscal fission. Eliminate capital gains tax and profit would have been taken ages ago rather than a 1035 escape to nowhere. Wall Street got involved for the reasons I cover in Wall Street Dancers. The free market works when it is fairly regulated, not rigged as it just was. Ever heard of Glass Steagall? It was Repealed 1999 and written in 1933. It was a firewall that worked for 70 years in preventing what just happened. Wonder why it was repealed? And no one knows the difference between capitalism and a centrally controlled and distorted economy better than the Poles. Abandoned to Stalin at the beginning of the cold war they cynically summed it up the best, “Under capitalism man exploits man. Under Socialism the reverse is true.”-author unknown. The Poles got Stalin, we picked a new president. We got the lesser of the two distortions.
I’ll take it. For the time being, rebalance your portfolio (or what is left of it if you didn’t get out of the way of this meltdown) to reflect the present and please, try to find something that rhymes with 2012.
Trent Tucker
author Wall Street Dancers
www.strategicbookpubli....