A few days in to the new era of Hope and Change, and President Barack Obama (not pictured) is running into some opposition not just from the Republicans, but from Nancy Pelosi (also not pictured) and other leading Democrats. President Obama used today's radio address to stress the need for "unprecedented action."
Am I Grace Park's biggest fan? I've been watching the Canadian TV series The Border. But only starting from Season 2, Episode 7. That's when Agent Liz Carver (Grace Park) joined the cast. I've only made it through that one so far. Not horrible. Maybe I'll watch the the first season and S2E1-6.
I'm long the market. I think we're near "the bottom." Of course, the transports are worrisome, no? But I continue to believe that it's not over for the US. I believe that the low interest rates and stimulus will work to stimulate economic growth. But right now, no one seems to have faith.
The president pleaded for urgent action, saying, "if we do not act boldly and swiftly, a bad situation could become dramatically worse." Obama's remarks came as he is lobbying for a quick congressional passage of a $825 billion dollar stimulus package to pump up the economy. That's another nearly trillion on the deficit, by the way. I suppose he's trying to gain public opinion his way to give him the green light to spend like crazy.
And now, after 8 years of silence, the Republicans are finaly trying to act like spendthrifts. Right. They didn't do any better on their watch. I can't see how anyone can take them too seriously when it comes to balancing the budget.
The Aftermath of Financial Crisis, from Barry Ritholtz. A link and excerpts from the Barron's column this weekend, and also links to Barry's previous comments. Worth a peruse.
I do wish President Obama well, but I am already suffering from Obama Fatigue. Maybe it was the long campaign season. But his speaking style is really getting to me. You know what I mean, it's the TV-preacher thing. I keep expecting to hear, after every uplifting sentence, "Can I get an amen?" Remember Arsenio Hall's stand-up TV preacher bit? Like that!
It always seems like *this* will be the week work lets up a bit and I'll have a few more minutes to blog. Still hasn't happened. Work is crazy. Nornally the holidays would be slow, followed by the big bang in January. But the Fun Factory was hectic over the holidays and continues to be so. Hectic.
Bookmark this one for future reference. Econobrowser has a concise summary of macro performance under the Presidents. Cool chart. I like charts. Noice.
There's a Grace Park video on Youtube where she's being interviewed about her role in The Border. What's funny is when she's asked about her prep work for her role as Liz Carver. She had to dig deep down to come up with something, I thought she might blurt out, "No. Not really. No prep work whatsoever. Want to go grab coffee?" Link.
Listened to Gary Kaltbaum's radio show last night while working out. He noted that GE is now yielding about 10%-ish. They spend about $12 billion on their dividend. So, they could cut that to 5% and save the company $6 billion. Would they do it? Seems to me that we are in an era of shrinking dividends.
Richard at Move the Markets has an interesting one up on DJIA Distortion. Well, the Dow and SP500 are market-cap weighted.
And I'll take you out with a Grace Park vid. Can I get an amen?
