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Friday, October 8, 2010

Economic Uncertainty (Wall Street)

Wow, am I ever tired of hearing the Wall Street suits use that "Uncertainty" excuse over and over and over again. What they really mean is that they are greedy and don't want to part with one dime of all their massive borrowings (at zilch interest rates) and hoardings until they are SURE Obama is not going to charge them some taxes over and above their buddy, Bush. It makes me sick that the corporate world takes NO responsibility for the plight of thousands of poeple who are losing their homes, their jobs and their self respect.

Earnings reports have been splendid on most corporations, and yet the market is as woozy as a sailor on Saturday night leave. Again, investors (thems with the money) are standing on the sidelines, petulant with "uncertainty" (i.e. FEAR) afraid to lose a nickel. I laud the brave souls that come on TV and appeal to investors to ...INVEST. Yes, invest in America, you dorks.
It's very clear to me that the "them" and "us" is alive and well on Wall Street. I do think Obama should have taken much of that bailout money and used it to do infrastructure and Roosevelt styled projects. Invest in America and not in the deep pockets of the rich once again.

I will stick with our President because I think his heart is in the right place, and his vision is one of goodness. But in the labyrinth of politics, among cold and steely insiders, he has lost his way. The sad part is, he is losing his supporters. We have two more years to go, and I am hopeful that with the change in personnel, things might sort themselves out.

Meanwhile the election in November is getting to be the worst mudslinging, hysterical madness we've witnessed in a long time. The Tea Party will end up at the bottom of the cup, but it can wreak a lot of havoc until the party's over.

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