Prudent Man CFA

Wall Street Breakfast: Must-Know News

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.