Friday, January 22, 2010

"I Gots the Stock Market Blues"

Wow, the Dow is already starting to crater. A bunch of crappy companies got tossed out, a bunch of crappy companies are still in-like GE, a couple of banks and that type II Diabetes producer, McDonalds. CNBC's Joe Kernan called McDonalds the trade of the decade.

Maybe we should make McDonald's foot the health care bill. Didn't we make tobacco do that?

With unemployment ticking up again, deflation showing up in the CPI number, housing numbers down, and a government that is mired up to their ribs in debt, there seems to be little support or little means to effect another rescue. I still think the worst of it will show up in quarter 2 right about fireworks time. I shoulda known the rats would leave the ship early.

A jobless recovery? A housing less recovery? Even GE is selling CNBC. Why? Ad revenues are down. Who's gonna tune in- in the upcoming years? Warren Buffetts kids?

More fun to come.

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