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Where’s The USD Going, Now?

Adam Hewison at MarketClub has just finished creating a video on the dollar index that I am sure you’ll enjoy watching.

The short video quickly shares his throughts on the dollar and where this market may go. He caught the USD near the low, 73+, and it hit 80 about seven weeks later. The Trade Triangle Technology gave him about a $4,000 profit per contract on that trade. Now what?

I Just Got Sick To My Stomach

It sure won’t get your feet atappin”!

Why are we protecting stupidity?

What am I missing here?

Nouriel Roubini believes,

The bank failures stemming from the crisis have just begun, Roubini says.

“There are about 700 banks in critical condition,” he maintains. “I believe 100 to 150 of them, with about $1 trillion in assets, will essentially go bankrupt in the next year.”

We’ve read that the FDIC needs an additional $150 Billion to meet its needs as banks fail. Yet today, the FDIC, as part of meeting the financial crisis, thinks protection on savings accounts ought to be raised from $100,000 to some higher number. Both McCain and Obama recommend it be raised to $250,000.

Who are we protecting now? What’s wrong with publishing a list of those critical banks and recommending that depositors shift assets above $100,000 to another bank. Why are we protecting stupidity? Why should you and I be on the hook for this stupidity?

Reduce The Debt Burden On The Consumer

Something Economist Nouriel Roubini said reminded me of a comment I made in Jingle Mail.

First Roubini said “…the Bush administration’s $700 billion plan to bail out troubled banking institutions won’t put an end to the financial crisis.” He writes that we need to recapitalize the banks and we need to reduce the debt burden on the consumer.

I like Rush Limbaugh’s idea. American consumers owe $915 billion in credit card debt. Why not have the government pay it off for us. It would be like hitting a reset button, getting back to zero, so to speak. No pain and soon Americans would be spending again

1.4 trillion dollar loss in one day … nice trade.

That’s how much was lost in the market yesterday, But did you know you could have made money yesterday following the Marketclub approach?

What Does A “Community Organizer” Do?

Stanley Kurtz, senior fellow with the Ethics and Public Policy Center in Washington, DC., describes what a “community organizer” does and why Obama is up to his eyebrows in the Fannie Mae, Freddie Mac mess.

Don’t Blame The Republicans For The Mess!

Rush Limbaugh writes

In 2004, Republicans held an oversight hearing on Freddie Mae and Fannie Mac. They warned us about this crisis back then, but Barney Frank, Maxine Waters, and other Democrats charged racism. Franklin Raines, the disgraced thief Democrat CEO of Fannie Mae, insisted the loans were “riskless.”

I’ve written that it is the Democrats that are responsible for the mess at Fannie Mae and Freddie Mac.

This video discusses the OFHEO report, critical of the two GSEs, and the Democrats in charge of over seeing the two companies response to recommendations for tighter regulations:


How Did Oregonians Vote?

David Wu – First District – NO
Greg Walden – Second District – YES
Earl Blumenauer – Third District – NO
Peter DeFazio – Fourth District – NO
Darlene Hooley – Fifth District – YES

Isn’t that interesting! Wu, up for reelection votes NO, Hooley not running again votes YES, DeFazio, I’m proud of you, voted NO. What happened to Walden, a Republican – YES. Dhame on you.

Democrats Lose In The House!

I am offended by the filth that spews from this woman’s mouth, and the gall to say such things just before an important vote for a bailout plan that the Democrats tried to shove down our throats. It wasn’t our friend Franklin Raines, but the friend of Democrats and Obama who appropriated 100s of millions of dollars from Fannie Mae. It was the Democrats that wanted affordable housing for everyone, regardless of whether they were qualified or not, that used ACORN to badger banks into loaning money to couples that didn’t qualify for a mortgage. The nerve of them all trying to blame the Republicans for their improper oversight:

Michelle Malkin has the transcript of her speech and is equally offended.

America dodged a bullet. Shame on Bush, Paulson, and the Democrats for bringing this sludge to the table in opposition to what conservatives believe, in opposition to all who believe in the Constitution.
Shame on Obama for supporting this and kudos to McCain for working against it and Palin for being against it from the get-go.

House Voting Down Bailout

So far the House has voted not to pass the bailout plan. By a vote of 206 for, 227 against, but voting is still open and I can imagine the pressure on those against to switch to the Pro side.

The DJIA has been down as much as 700 points, it currently, at 11:03 PDT, is down 485!

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