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Burtman

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Burtman's Blog : A Prayer for the U.S. Treasury

September 5, 2008

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Yesterday Bill Gross of PIMCO, the largest bond fund in the world, has asked the treasury to open it's balance sheet. Times must be tough.

And so we pray.....

Oh might gov'mint please help and guide us through these times of troubled investments. Please save us and protect us from our risky financial doings. Because, oh gov'mint, it is you who we look to in times of need. To bail us out and support our overspending. There was a day once where risk mattered. But those days have passed with the help of Cardinal Greenspan. Now we find ourselves in trouble once again with that mighty devil risk. Please give Hank and Ben the strength to obsolve this unforseen foe that has returned, to see our glorious institutions through these unnavigatible waters, and shift this burden to the little taxpayer. For no one should have to deal with risk. Our investments should be ever appreciating. And we look to you, oh gov'mint to maintain that standard. For the time of financial responsibility has passed. Amen

2 Comment(s):

TickerBandit Date

September 6, 2008 08:06 Abuse this post

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LOL, Burt. Amen.

They have made a habit of screwing with the markets. One has to wonder how much moral hazard they are embracing and whether they trade their own news in an effort to raise capital.

These are times when opportunity lies in making sure one is never "all in". One must trade out for a profit if he can when reversals occur. Fortunately, this one happened in advance of the news and I begrudgingly sold my skf over 5 points below its peak today. Now that the news is out, I toyed with the idea of buying it back in after-market trade at 3J's price but resisted the temptation.

There was alot of speculation about a "wicked rally". Could happen. But the news isn't really new. I watched Hank beg for the "blank check" and say it had to blank so they wouldn't have to use it.

I don't consider it a good sign that he is now having to use what he said he wouldn't likely have to. Soon there will be expectation of another rate cut. Bull markets thrive on stable slowing rising rates. Needing more impetus simply means we have considerable risk.

Even so, who knows how far this rally could go?

JoeJustJoe Date

September 7, 2008 07:06 Abuse this post

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I already told ya...so ya don't hasta "speculate" on "how far the rally will go" *-) ....>>>>S&P 500 to 1310-1325....then bust! *-) 3J

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