cloudy windy and cold today. I've got to get up the energy to go out and clean out the daffodils and crocus beds. Everyone should have some daffodils to brighten up cold and windy days, and enrich your days when the sun beams on their faces. (We would have tulips, but tulips are a deer magnet.)
Opening Vue:
- President Obama has presented his budget. The NY times has a very interesting and informative graphic "The scale of the President's Budget". http://www.nytimes.com/interactive/2013/04/10/us/politics/obama-budget-comparison.html?nl=todaysheadlines&emc=edit_th_20130411&_r=0
- Then the Wall Street Journal -- William Poole, "A primer for Understanding Obama's Budget". http://online.wsj.com/article/SB10001424127887323646604578405132295403060.html?mod=WSJ_Opinion_LEADTop William Poole says "It will doubtless project a reduction in the federal budget deficit—a projection that journalists, commentators and policy makers should ignore. To do otherwise is to be complicit in fraud. Strong statement? Not really. For 50 years or so the federal government has deliberately and to an increasing extent misstated probable future budget deficits. Democrats and Republicans are guilty. The White House is guilty. And so is Congress. Private firms that deliberately misrepresent their financial statements in this fashion would be guilty of a crime."
- Now that I'm retired and I will add I spent a year assisting my Republican Congressperson to get re-elected, I can say I will not support the Democrats, and the Republicans would like to take away those things the Baby Boomers have paid into the government for years. Except for what they spend on, the Democrats and the Republicans have misrepresented the corruption that exists, the commitment to cronies that exist, and the misrepresentation of spending and revenue that is rampant from the Office of CBO, White house, BLS (Burea of Labor Statistics), and so-on.
- And then Tuesday and Wednesday, the Federal Reserve (ah accidently) released the FOMC meeting minutes early to just a few of their closest friends in Congress (not all of Congress by the way -- just a few of their closest friends and lobbyists.) Then, on Wednesday morning they decided to release the minutes, but not to the news agencies -- only to the big banks. The general public did not get this news until at least 1 hour after it was released, but the big banks had it 19 hours before the markets opened in the US. The most interesting (or disturbing) part was the release in the morning after the NYSE was open for 30 minutes, and then not providing the FOMC minutes to places like econoday, briefing.com, and other Internet news until an hour later. That should have been grounds for much more rhetoric than you will find. All the focus is on releasing to the lobbyists early, but they compounded it dramatically -- http://www.washingtonpost.com/blogs/wonkblog/wp/2013/04/10/oops-fed-minutes-inadvertently-released-early-show-a-divided-fomc/ DON'T CARE.... Nobody in the Retail Public seems to care.
- Yesterday was such a strong up day, look for today to be choppy.
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