The President has a way with words and some of the ideas are worth talking about. People like Soros should not be allowed to pay 15% income tax. I would go to jail if I hid my earnings in a Swiss bank account but it is OK for Google, GE and other companies to do so. That is the problem with the Republican Party right now NO MORE TAXES but then we all know some people and companies are getting away with blue murder - Huntsman and Paul may be hard to elect but at least they talk some sense. The President's problem is that he is great with words and short on action - as a former Fed Reserve governor said this evening.. " he could have eased up on drilling restrictions and created a million jobs instantly".
We are back up to our debt ceiling and so we can expect lots of talk from both sides and not much action. That is not good for stocks. It should be good for Gold and Silver and bad for the Dollar but the rest of the world is even worse off so who knows ? I am still looking for a commodity sell off if only because the JPMs of this world need to cover their shorts and will push the market down first. When I can think of a better trade than the ones I have I will let you know. Nothing goes in a straight line .
We are back up to our debt ceiling and so we can expect lots of talk from both sides and not much action. That is not good for stocks. It should be good for Gold and Silver and bad for the Dollar but the rest of the world is even worse off so who knows ? I am still looking for a commodity sell off if only because the JPMs of this world need to cover their shorts and will push the market down first. When I can think of a better trade than the ones I have I will let you know. Nothing goes in a straight line .
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