. . . .Going In With Eyes Wide Open. . . . . .
Pray we hold Dow 7700 this time around and set up a nice triple bottom. If we slip through, it is a freefall to 4k. That would set up the worst possible scenario for global depression in the coming years. Not to mention the terrible DROUGHTS and floods here and abroad...FAMINE...globally still on the increase (including 700k starving U.S. children) and....are you ready for this? A PLAGUE of LOCUSTS reported in Australia's farm country, up to 4 miles long.
For the first time in my life, I feel anxiety when turning on the news. We have pirates on the high seas stealing 2 mil barrels of oil. Greed is at such a frenzy in the U.S. that we appoint the heads of the most corrupt financial institution in American history to manage nearly a trillion dollars in bailout/recovery funds. They hand it to banker friends, who use it to buy other banks (National City) and in the case of Morgan Stanley, has the audacity to return to trading in the derivatives market...akin to getting drawn back into an ultra high stakes craps game in the back room of a New Jersey bar....where the rules are changed during play...and nobody really knows all the rules. Are you kidding me?
We sit idly by shaking our heads, while the economy our fathers suffered to build gets torn apart piece by piece. And the very regulations back in 1932, placed by the newly formed SEC, to keep short-sellers from dominating markets and driving stocks to zero one-by-one...... and to restore investor confidence ....were all repealed when? Last year? And this was smart, why? So those safeguards are all gone. Short on a downtick, no problem. And look at the volume in the Dow. 4 and 5 times what it was just one year ago. That is the mark of a massive short operation, like none we have ever before seen. And in my estimate, one that is stationed in a high rise across the Atlantic, far from U.S. laws and SEC regulations. .....quite possibly part of an orchestrated attack, so diabolical that we could not see it coming.
Yep. I said pray that we hold 7700 and begin to rebound before the holidays. For the sake of our children and grandchildren's futures....pray that the powers that be wake up and come to their senses before it is too late to remedy the current situation. I believe change is good. But unless it started yesterday, it is likely too late to actually do good.
We need strong leaders in government, not afraid of taking on powerful entities. If president elect Obama is smart, he will look past the media hype and appoint Elliot Spitzer as Attorney General of the U.S., then set up task forces aimed at corruption within financial markets, corporate tax evasion, political good-ol-boy networks, fraudulent gouging of consumers, labor law loop holes and my favorite...suppression of patents on cures, treatments, energy-saving inventions and alternative energies. Take the pillow from off the face of America.
Rande Is |
