Thursday, August 13, 2009
Recess is Over
Okay, so, through clever manipulations, corporate earnings are way worse than they are reporting (and getting worser, possibly the worsest twelve months ever). The 9.4 unemployment rate is just as cleverly manipulated and getting worse. Government debt levels have broken all records. In fact, our witless Treasury Secretary has requested to raise the debt ceiling to an unspecified level. But wait! Over a quarter of homes with mortgages are under water. Yes, I know "worser" and "worsest" are not real words. Consumer sentiment is in the tank again. Foreclosure notices are up handsomely. It appears another debt bubble is about to pop--actually thousands of tiny little debt bubbles in the form of emerging market micro-finance. Ummm, what else? Oh yeah. Frustration and civil unrest within our unRepresentative Republic is, finally and thankfully, on the rise.