Today is the first day of Hanukkah, and Christmas is on Thursday. The "real" market movers and shakers are not at work this week. This being said, I plan to join them in a few hours.
By now you should be convinced that the U.S. has become (or has been for a while) one of the most corrupt countries on the planet. This list of misdeeds and dishonesty are too large to list. From Wall Street to Main Street to Washington DC, we have become a lawless society.
A society built around decency and strict enforcement of laws does not live in fear. Our citizens live in constant fear. A decent and lawful society does not have to worry about "street gangs", putting bars on their windows, or even having a burglar alarm system for their homes. A decent and lawful society does not have to worry about Wall Street thieves tanking the economy, or their politicians and legal system beholden to these chosen few.
A decent and lawful society does not have to go out and buy a handgun to protect their families from predators, but unfortunately to level the playing field, many have to. In short, we live in a dangerous society of liars, thieves, crooks and con men.
The Wall Street Journal is reads like a scandalous rap sheet.
Here is a partial list of past and present liars, thieves, crooks and con men;
Street Gangs
Wall Street Investment Banks
CEOs who enrich themselves through stock options and fraud
Enron
WorldCom
Tyco
Accounting firms and financial engineering
US and European banks
AIG
Bear Stearns
Lehman Brothers
CitiGroup
Political Crooks
And, many, many more...
Market Overview
Attempting to analyze the markets this week is a waste of your time. Go enjoy your family. I believe in the weeks ahead the news will continue to be bad, but the markets will continue to rally. The Fed and Treasury have pulled out all the stops, and the current deflationary trend will eventually turn inflationary.
The stock market will anticipate a recovery, and in the months ahead look for a rebound in energy prices, precious metals, agriculture, and the CPI number. I am also looking for the dollar to fall, and longer term bond yields to rise. The big bubble right now is in the Treasury Bond market.
In the DG ETF portfolio, we are positioned for a rebound in commodities, as well as a rebound in the financials and major market indexes.
