Economic Musings

It is amusing to watch one of President Obama's speeches and the stock market at the same time on CNBC...one can watch the market fall, as he speaks.  The same applies to Fed Chairman Bernanke or Sec Geithner.  Obviously the Markets feel these folks are "bad news".

GOLD...it is still the number one commodity to hold.  Economic chaos in Europe and the Middle East make it a "safe haven" in lieu of the declining US dollar.  There is still, as of today, no verifiable proof to the rumour that over the counter trading of gold and silver will be banned on July 15th under the Dodd-Frank Wall Street Reform Bill.

Debt Limit and riots in the USA are a possibility.  Austerity in the USA is not that unrealistic and probably a good idea to reign in the "Socialist Agenda" of the current Administration.  After decades, welfare and handout loving Liberals can see the end to their "fleecing of America" and they don't like it.  Instead they prefer to Tax, Tax, Tax the job creators  of corporations and wealthy individuals to continue the funding of all their socialist programs!  No homeless person on the dole ever created one job.  Liberals, this TAX THE RICH SCHEME is not going to happen!