Dubya may be spending his "capital" on more tax cuts and Enron-style
looting of the American Economy;
But Dubya voters in the "Walmart States" are finding that YOU CAN'T
SPEND JESUS!
Apparently, Walmart still want's REAL MONEY.
ALAS, SHOPPING IS NOT A FAITH BASED INITIATIVE!
That said, you can always "walk around" and window shop, and many
retail spin doctors are now hyping that end of the retail data--foot
traffic! Hmm....mall rats?
Anyway;
The dollar is a little over bought, considering that it fell like a
stone all last week. But, GOLD is soaring to mid ' 80's levels
nearing$450/oz. Clearly, gold is the one and only big macro-bet that
everyonecan love.
China is angry about the dollar, and Japan hasn't bought dollars
since spring....remember the back head-fake "bond crash" last April?
But the Inaguration of Dubya for a dismal Term Two could be a BIG
DOWNER for the dollar and the bond; as it finally sinks in that we're
stuck with FOUR MORE YEARS!
And of course, Iraq and the middle east will continue to simmer. Iraq
and American deaths are becoming like a "low grade fever" in the news
cycle.
Two more today. Tomorrow one, or maybe three....and so it goes.
FInding REPLACEMENT TROOPS could be the big story of 2005! After all,
these weekend warriors want to come home sometime soon!
We've got to the point where JUST TREADING WATER ON JOBS is considered
to be an hosanna moment on Wall Street.
The hope is for 200,000 in November. Well, maybe.......but the job
market is still structurally weak and everyone knows it.
Especially DUBYA VOTERS who walked around Walmarts this week "just
looking!"
THE RICH WILL SHOP TILL THEY DROP. DUBYA WILL SPEND HIS NEW
"CAPITAL."
BUT ALAS, DUBYA'S PEOPLE CAN'T SPEND JESUS AT THE MALLS!
SO, GO HOME AND HAVE A HEAPING PLATE OF "FAMILY VALUES!"
But there's always the second hand thrift shops, and the Dollar
Stores! Dollar Stores are booming! And filled with good "Dubya"
born-again Christians these days!
On Currency where the real battle is raging: Click and bookmark;
http://www.bloomberg.com/news/markets/currencies.html
