Is the Crisis Over?

Wells Fargo posts a better than expected profit and gross revenue number and the street cheers! Add to that the fact that Fannie and Freddie aren't in as dire straights as first believed and the market blasts off!

Are we out of the woods yet? Well hold on, what about oil? The Dems don't want drilling, they want something done about the speculators. Those evil speculators, who do they think they are, profiting off of the high demand and limited supply of such a valued commodity?

This type of thinking proves one of two things. Either the Dems don't really understand the most base economic forces of supply and demand or they are using this crisis as a political football. I think it's the later, but lately I've been a little to cynical .... even for my own liking.

Enter 'W', love him or hate him, he always has a way of coming on stage at the last minute and making Nancy P. and Harry R. et-al look like a bunch of dolts. Dubbya says drill, drill now, drill everywhere, here's your permission slip and bingo, the price of oil begins to drop.

Oil has declined $15 per barrel over the past three days. Guess what, the nasty speculators saw that someone was serious about creating more product to go with all that demand out there and they decided to vacate their positions because in the future there WILL be enough oil.

More supply, price drops. Simple economics. Why didn't we do this three months ago? The Republicans are no better than the Democrats, this issue was a political football.

Hopefully we, the populous, will get smarter and kick all these Cretans out of office and put a new batch in that cares about the country. Naaaahhh, wishful thinking.

Greenspan Won't Leave the Spotlight

Alan Greenspan did a great job for the economy as head of the Fed and even though he is retired from that position, he hasn't left the spotlight. His commentary still holds great sway over the markets. While Mr. Bernanke plods his way forward and attempst to deal with the dual problems of rising interest rates and rising inflation, it will be interesting to see if he follows his seemingly Greenspan style ways......

Stay tuned....

Back to Rand

It never ceases to amaze me how certain philosophers throughout history have been able to nail down characters that seem live for generations. Ayn Rand is one who was able to do just that. Whenever I see Harry Reed on television I can’t help but think of the sniveling, conniving, self interested brother of the main female character in that book. It has been a while since I’ve read Atlas Shrugged and the names of the characters are lost to my memory. However, I do still recall the vibrant portraits of the individuals that Ms. Rand painted so eloquently in words.

Pictures of a wiry, slick intellectual whose comments appear to be of concern for the ‘little’ people but whose words are nothing more than double-speak. Thoughtfully structured press releases and television appearance designed to confuse the masses and to allow for an escape should the political situation change and the position become untenable. Harry Reed is a willow in the wind and while I am no fan of many republicans, Mitt Romney and others, I cannot abide an individual that is so blatant in their hedging on any position and so corrupt as to try to deceive through misstatement of facts.

Hey Harry, get a backbone and really stand up for what you believe in! That’s my thought, I welcome yours.

Great Article About Energy from Marketwatch.com

Click the link below for more solid commentary on energy, business and our government's role.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B79983B25%2D4673%2D4B9D%2D937B%2DC9C795A26EF6%7D&siteid=mktw&dist
Congress is to blame for our problems not the energy companies and the President needs to get out in front of this issue and start to educate some in congress and the American people.