Monday, January 7, 2008

And It Begins.....Again

Futures up sharply this morning as Wall St. awaits a white Benny B in shining armor. "Save us, save us with your reckless interest rate cuts" cry the damsels in distress at Citi and Bear Sterns. The $65M made by Goldman Sachs CEO in 2007 wasn't enough. We need more damn it. Those $30M Hampton beach houses ain't gonna pay for themselves you know. Nor will the Gulfstreams used to get to the houses.

So what if 99% of Americans get fooked in the process? So what if the dollar loses another 20%? So what if gas goes to $5? So what if the price of wehat doubles again? The commoners matter not. As long as the lords in the castles get theirs, that's all that matters.

Oh I know Larry Kudlow would respond by saying 50% of Americans are invested in the stock market. And he is right technically. But for the vast majority of people, inflation brought on by the reckless rate cuts is costing them more money than what they are making in the stock market.

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