Just some short takes on recent events:
1. The WSJ was no help with it's article yesterday about gold as a new "respectable investment." Consider: The Journal finally OKs gold, and it's down big that same day!
Still, my gold stocks are the only ones that I consider long term holdings. That trade deficit is going to "kick in" someday. Count on it.
2. Jeremy Siegel's Journal op-ed today says that the Fed must be right about interest rates and inflation; DESPITE THE CRB! Why? Because the bond market is not punishing the Fed. Well, there is the little matter of the BOJ "supporting" US bonds, ya think?
And, news that the BOJ might be reconsidering being the buyer of last resort for US Treasuries is "interesting." I think Siegel may be jumping to conclusions too quickly here.
3. The Uzbekistan situation bears watching. If Osama and his boys want a WORLD WIDE CONFLICT about Islam and the West, a NEW WAR in Uzbekistan and the other "stans" could be the start of something big.
4. The Journal warns Dubya not to "do a Clinton," and use the Oil Reserves for political purposes this summer. But, if gas is hitting $2.50 on both coasts, I don't think so.
In truth, I think there is a 50-50 chance that the "gas crisis" may NEVER materialize this summer. These things have a way of "magically" going away. And, with the election coming, I'm expecting some kind of magic soon. In short, OPEC will "do it's duty".
5. The Journal reports that outsourcing may CREATE jobs in the US after all. How so? Well, after all of the high wage computer and tech jobs are moved to India;
American CEOs will have enough money to hire another CABANA BOY for their pools this summer! Now that's jobs progress--American Style!
6. Should the Tyco holdout juror be prosecuted for violating her JURORS OATH? Yes, in my opinion.
But, the Feds have a lesson to learn here too. DON'T MAKE SUCH COMPLICATED CASES! The Feds tend to throw in everthing but the kitchen sink, and that just pisses off the jury! Federal laws are statutory, not Common Law, as a result there are a lot of odd sounding "crimes," and some of them don't seem fair to the average person on a jury.
For example, I know of a case were a Kentucky "good ole boy" was charged with "moonshining." And, there were about 20 counts in the Federal information. Including not "identifying the illegal still with a visible sign!" Like what?
"WELCOME TO JEB'S ILLEGAL MOONSHINE STILL!" See the point?
In short, keep it simple. If the Feds look like they are "piling on" the sympathy of the jury often shifts to the defendant. FYI.
7. The usual suspects are "seeing" more jobs in the US economy last month. They must have a "sixth sense," because I don't see anything yet!
