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United Soviet States of America: The Bailouts Continue and Respect of Law Continues to Diminish |
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By Cody Willard I got back late Saturday night, after Lobo and I fought delays on American Airlines for hours in Dallas. Even as I had such a terrific time in Ruidoso (and of course in LA as I became the second person from my kindergarten class of 28 students in Ruidoso, NM to be a guest on The Tonight Show with Jay Leno — click here to see the clip), I was excited to get back to NYC and get back to fighting the good fight against the corporate and white-collar welfare society we continue to find ourselves being dragged into by the Republicans and Democrats in charge.
Didn’t take but one glance at my morning NY Times as Lobo and I headed out the door into the brisk single digit temperatures here in NYC to get my blood boiling: First headline: -
Congressional Democrats were drafting legislation for government control of the auto industry, including the possible creation of an …December 8, 2008 - By DAVID M. HERSZENHORN and JACKIE CALMES - Washington
Second headline: = Can you tell which country you live in? Can you tell which country supports private property laws? Can you tell which country is built upon the respect of contract law? Can you tell me which country has an upwardly mobile society and growing economy? Can you tell me which country has some semblance of balance between the rich and the poor, the ownership class and the working class? Can you tell me which country is full of oligarchs that are protected by their political cronies? I can’t. The bear market will continue until we get a recognizable system of law back in this country. No more bailouts for any companies or people who didn’t prepare for the rainy day that we’re all living through right now. I’ve been saying for months that we’re likely rangebound between 7000 and 9500. We’re getting closer again to the top part of that range. Sell this rally and get short if we get closer to 9500.
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