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Galt Stock Independent Investment Research for IRA’s and 401K’s
Dec 4, 2008
Three wise men drove their electric hybrid camels over the hill and across the Potomac in the spirit of Christmas. They traveled night and day to ask for gifts. None dourer faced than Foreman Waggoner, he faces the hangman by the end of the year, if not successful in his pleading. Ranch hand Nordelli of the adjacent Chrysler Ranch called out the courses “On Dodd, on Shelby, and on and on they went. The questions they flew, the papers they shuffled, the experts scowled, the answers veiled but what to my wondering eyes should appear but Ron Gettlefinger to exclaim “$34 billion for my autoworkers”. Such is the show from Washington. We all know they are going to get something; we are witnessing a demonstration of Washington Three Card Monte. The prize goes the guy who guesses the correct shell. The game continues tomorrow.
The market sold off as the hearing ended. The unemployment report comes out tomorrow; it is expected to be bad. The Treasury is ready to roll out an interest rate subsidy for homebuyers through Fannie Mae and Freddy Mac. Rates as low as 4.5% are being floated, and may be announced next week. This could drive a mini rally in the market. Tomorrow’s report is already discounted, unless it is really bad, a plan to fire up the real estate market may be the catalyst for the economy. The engine built the bubble creating the mess we are in may deliver a shot to the dying patient.
WARNING: The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions. It may contain errors and you should not make investment decisions based solely on what you believe you have read here. Do your own research, it’s your money. If you lose it, it’s your responsibility, not ours or your grandmothers! The editor may or u amay not have a position in any securities discussed. The editor may have held a position in a security earlier, or in the future
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Copyright © 2011 Freedom Development, Inc., 1377 N. Clearwater Rd. Clearwater, KS 67026 All rights reserved. The above message may be republished, retransmitted or forwarded with attribution to John Dalt of www.galtstock.com. We ask you to make us aware of any reproduction of our material at john@galtstock.com We may be able to return the favor. |
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