G.M. has eliminated its dividend. It is the first time since 1922 that G.M. has not paid a dividend.
The SEC has enacted "emergency measures" to stop ALL short sales of Fannie Mae and Freddie Mac, as well as many other financial companies like Lehman Brothers. Government sponsored market manipulation hardly engenders confidence. While the Government was at it, they also began a witch hunt for "evil doers" and are subpoenaing brokerage firms and hedge funds looking for someone to execute in public (the mob ALWAYS loves that).
Consumer inflation is reported at its worst in 26 years. Wholesale inflation was reported for June at nearly 10%!! And we all know how accurate these numbers are...
It was reported this morning that, GET THIS, Fannie Mae and Freddie Mac MAY cut their dividends. MAY? MIGHT? HAHAHAHAHAHHAHAHAHA! Oh, G-d! That one KILLS me.
Washington Mutual, National City Bank, Wachovia Bank, and MANY, MANY are on the ropes. But President Bush say's the financial system is "Basically Sound", so we got that going for us.
Remember Bernake's silly threat to RAISE interest rates? That was SOOOOOO 3 weeks ago!
The U.S. Dollar is down so low it could walk under a Nickel without bending over.
Gold & Silver (real money), are near multi decade highs.
And that's the way it was,
Yours for a better world,
Mentat (at) Yahoo (dot) com
1 comment:
Stay calm people! Nothing amiss here. Keep it coming G.
Post a Comment