- Much of the gains from Monday's market ramp were given back Tuesday. The big culprit seemed to be the government bond auction, as buyers want higher interest for US debt.
- Lets face it, the US budget is a joke. The government is spending trillions that we don't have. The dollar is tanking. The government is meddling in private enterprise, with predictable results. Chrysler is bankrupt and GM will declare bankruptcy soon. Gee, and the government wants to direct "green energy" and create national health care. Anyone want to guess what the results of those endeavors will be? Shouldn't be difficult to predict.
- Anyway, don't let it ruin your Summer. While it is true that the US government seems to be a giant snowball rolling downhill, getting larger and crushing everything it comes in contact with, there's not much you can do about it. We can over analyze it and complain, but as always our own future depends mostly on us as individuals. Don't go into debt, and save, save, save. The American dream is still possible, even if the government makes it more difficult to achieve.
- Phew, I feel better. Thanks for listening.
- Meanwhile, the Lakers win at home. And while I am a Lakers fan, I do recognize that the home team seems to get the best of "the whistle," as George Karl might say. I still wonder if the NBA tries to extend these series as long as possible to rake in as much money as possible. But I don't want to get all conspiracy on you and start talking about David Stern flying around the country in black helicopters at night to meet with NBA referees...
- As I type, the market has reversed and is now in the green. We do have month-end strength coming up. Heck, maybe it's here, as we get month-end portfolio rebalances and 401(k) money added to funds.
