Economic News

There are several things making news quietly this past weekend that are so far being ignored by the media.

All three have to do with the economy, and all three of them seem to go counter to the happy recovery talk on mainstream TV.

First off, word is the Wall Street insiders are dumping their stocks as fast as they can. The last time this happened was right before the crash last year. These are the same folks that have been driving the market up for the past six months leading up to what many have speculated as a giant sucker market.

So if you have a lot of money in the market, you might want to think about diversification right now.

Tonight Mr O will announce his new sweeping regulations for the banking industry. He wants to make sure that another crash can be avoided. My only problem with that is he needs to implement some sweeping reforms on congress as well, so that they will let the regulators do their job.

We all remember ( at least I hope) Barney Frank telling the Fanny Mae regulators that they were not cooking the books, and in fact the regulator was the problem. He denies it, but the meeting was captured on Cspan for all to see.

So there is already plenty of regulation. There is just even more obstruction by members of congress. And true to form they point their fingers in every other direction looking to assign blame for the mess they created.

But I digress. According to Joseph Stiglitz , our banks are in worse shape now then they were last year before the collapse.

And since the world governments are regulating laws based on Gore's theories, they might want to listen to a guy who actually is an expert in economics.

Have I mentioned that Mr Gore has a journalism degree, and not a science degree? And that he is set to make upwards on 100 million dollars once the Cap and Trade Law gets signed?

Regardless, you can read about the economists take of things here;

http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu9eBg

Commercial real estate is about to become the next domino to drop.

And the job forecast is bleak. The government is now quietly saying it will rise and stay horrible for years.

Sunshine and Lollipops for all.