Wednesday, November 18, 2009

Gird Your Loins

Housing starts.

http://money.cnn.com/2009/11/18/markets/markets_new_york/index.htm


CPI came in a shade worse than expected at .03. Dollar trading at 1.50 to one euro. Gold hitting 1150.00. Oil not budging, hugging 80 bucks a barrel, so no pump relief for us.

Official jobless rate at 10.2. Real unemployment closer to 20%.

We have been sitting in an artificially induced eye of an economic storm. The best news is baked in. When we exit the eye of this financial storm, this is going to get real interesting...say about 2010. I can't wait to see Frankenstein try to put lipstick on this pig in an election year.

Anyway, I don't see this as good or bad. I just see it as it is. Pretty soon, inflation and the Federal Reserve are gonna jack up the interest rate on all that dough we borrowed and as Joe Biden so aptly puts it, it will be time to "gird your loins."

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