The Santelli Rebellion

This video of Rick Santelli on CNBC this morning sums it up. Forget calling it the Chicago Tea Party, this is the start of The Santelli Rebellion... He's clearly a better thinker than anyone in Congress at the moment! SANTELLI '12 - It's not "yes we can," it's "yes we WILL." Viva Capitalism!

Sign of the Times

A woman is apparently attempting to lay the blame for her investment losses with Madoff on the SEC (and thus the taxpayers). Uh, yeah. Even though I left my homework with your dog, and your dog ate my homework, the teacher should now flunk you, not me. I bet she bought her house with no money down and an adjustable interest-only balloon loan, too.

The Fabric of Society is Thinner Than You Think

A statement clearly backed up by the aftermath of Hurricane Katrina, and to a lesser extent (although the ramifications are really more far-reaching), the recent bailout of Bear Stearns by the Federal Reserve.

Now I know that Bernanke makes a solid point when he says that the fate of Bear Stearns is not a desirable one by any means. I agree. Nobody but the short-sellers have come out well in this situation. However, the apparent fact that our financial system turns out to be a confidence game and that the failure of one large broker/banker cannot be tolerated makes me think that I'm watching the Wizard of Oz, and the little man behind the curtain has just been exposed...

Don't misunderstand- I'm neither a doom-and-gloomer, nor a gold bug. I am convinced more than ever that the importance of diversification among several asset classes cannot be over-emphasized.