Dennis; I went in not to long after that post, but not very deep,
and I stand ready to short em off if I need to.
I see gap down again in the morning but then maybe another
rally..a lot now hangs on the dollar, any more down side
in it could trigger a sell off.
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They better think about them so called tax cuts, 36% of our
debt belongs to forieners now thanks to Nixon selling out
our sovernty, and they won't like the idea of a smaller tax
base as risk to Gov bonds is based on ablity to collect tax,
all we need is a sell off of bonds now, and there won't be
any Tax collect to give us a break on, so what good does a
tax cut do there if you can't make any money.
Particularly if they cut Cap gains,,,the gains will go out
the window..old money will pull out , & muni bonds will fall
more, they better pay off some of the debt if they can,
that helps everyone except the fat cats who love to keep
it up and run the yen carry trade on it.
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They are going to mess around with crap they don't half understand
and kill the dollar until we are paying $50 a barrel for oil
and $5 for a gallon of gas.
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They need to get a Tobin Tax on currecy swaps then cut the tax
on the average man.
Jim |
