We get in recessions because we do not adapt to the changing realities. If tomatoes goes up to $4 a pound, you would buy fewer of them, right? So same should go for gasoline, but we continue to drive alone to work and back home and start bitchin' about it to our government. We dont know that we can call our car insurance agent and tell them that we are gonna drive less cuz we are gonna carpool with some buddies. I can guarantee you that you will get a discount on your car insurance if you tell the agent that you will drive x miles less than last year and promise to stick to it. Big Oil will be prodded by insurance companies to go fetch more oil or cut gasoline prices. Problem solved, bozos!

Call 1-800-Get-Rid-of Bush.

A bit too late for that I guess but the pleasant memories of that initial check we received back in 2001 have faded like those pants that I once wore to those cocktail parties in Newport.

How bad has this become? Well, check the news. Bush goes to the Saudis and begs them to increase production and gets an Econ 101 lecture from the King, "We'll increase it when the market tells us too." Translation? Whenever we get good and damn ready. And, instead of buying our ports they now buy our banks. How sad is this. Now we must appeal to dictators and kings to bail out our financial system. So much for spreading democracy. Bush has actually helped Chavez and Putin consolidate power.

The sad fact of the matter is none of these people is experienced enough to get us out of trouble. You're supporting Hillary because she was married to BIll. It's that simple. Obama is nice enough but isn't experienced enough to be president. Great attorney general material though. Maybe a combo ticket of Romney and Richardson but that will never happen. McCain is too old and was all involved with the S & L fiasco so he knows next to nothing about finance. Bloomberg better do something soon cause to quote the Eagles, "This ain't no time to be cool."

What a tired slate of candidates. No, the economy and our banking system will go through a near death experience and the only thing that will save it will be greed which is exactly what got us into this mess. Kind of ironic ain't it? If we cut rates again during a period of inflation we could end-up like the Weimer Republic printing money to cover rising costs. Nope let them eat debt.

Beltway Greg.

Hey Beltway,

Can't wait to dine with you 'cause you are right on today!,

The answer: Chasing Value: Raytheon in defense of the nation and your portfolio, http://www.bloggingstocks.com/2008/01/05/chasing-value-raytheon-in-defense-of-the-nation-and-your-portfo/

Finally a day seeming without a let up of selling. After close bid hitting. This is what is needed. Sentiment indicators falling. I really thought that last year late would have had this element of capitulation. (sent that to Barrons call for predictions of where the Dow would finish in '07 Boy; was I off) Ah well they're heading for the doors en masse now! Nothing changes. Only glimmer is that new highs new lows held up better than last weeks plunge forming the dead cat bounce (not long lived and so the name). Just a little more panic and we can start a nasty short covering before the next leg down. You know, those bear market rallys can kill.

If the politicians want to really do something foe the American people in the way to giving a tax break to middle -& - low income and retired senior
citizens and give a jump-start to improving the economy, they could (1) allow capital loss deductions to increase from $3000 to $5000( it will take forever to write off losses at $3000 /yr);
(2) eliminate the 85% tax on social security.. which amounts to double taxation.. we pay taxes on wages, interest, Cg, dividends, pensions ,
business income , etc.. above the line , then all that income is added to one-half of the social security and we are taxed again to 85%. Retired folks have a diffcult time paying for expenses on fixed income and costs are rising with no increases.