Remember this Day
Research for Online Investors

by John Dalt

12/07/10

I am out of the office today.  One of our daughters at college is having surgery.  We have to be there for her…and us.

We are leaving shortly after the market opens to drive to her city, pick her up and go to the hospital.

I don’t know what time you will be reading this, but whenever it is…pause for a moment to remember a moment that changed the world.

No, I am not talking about the announced agreement to extend the current tax rates and unemployment benefits.

Sixty-nine years ago today, Japan attacked Pearl Harbor. This attack led to the entry of the U.S. into WWII. Over 3,500 Americans were killed or wounded in a few hours. Three-hundred fifty aircraft were destroyed and all eight battleships of the U.S. Pacific Fleet were badly damaged or sunk.

The attack occurred at 7:48 a.m. Hawaiian time.  This is five hours after Eastern time in the continental United States.  As you are finishing lunch today, remember the U.S.S. Arizona and her crew.  President Franklin D. Roosevelt proclaimed Dec. 7, 1941 "a date which will live in infamy."

I will be watching the markets from the hospital, and back in the saddle from a hotel room on Wednesday.

Our link to Ben Bernanke on 60 Minutes yesterday was misdirected, you can watch the interview here.  I noticed it looked like a strange address when we published it, but strange and internet are not mutually exclusive.  In case you missed the video that everyone is talking about, here is "The Ben Bernank."

The market is looking higher today.  The agreement to extend the current tax rates is a big plus, even if only for two years.  Frankly, it seems the conservatives gave away too much...but this morning it sounds like the most liberal members of congress feel like they have been sold out by Oh! Bama.  They won't be happy unless they take all income left in America to give to their constituents.

Bottom line, taxes have been cut, more entitlements have been extended and the budget deficit gets worse.  All while both parties seek favors from their constituents for "doing the right thing."

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 is your money.  If you lose it, it is your responsibility, not ours or your grandmothers!  The editor may or may 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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