Gold or Silver

It would seem that President Obama's new Economic team, including Timothy Gietner (Secretary of the Treasury), Paul Volcker and Governor Richardson (Commerce Secretary) will have to decide whether or not our economic system needs to be overhauled. Maybe we need to go back to the Gold Standard. Maybe the system of throwing darts at resolving the current economic meltdown will be debated by men who see alternatives. This weekend would be a great time for everyone to go to their local college bookstore and purchase a current economic textbook and decide whether or not it makes sense. It is clear that since September 15, our market system is not following any economic model. Hopefully on Monday, we will learn what President Obama will offer us for the future.

Random thoughts.....It is time to see a Movie Double Feature this weekend...James Bond would be a great first choice to take your mind to Italy or The Boy in the Striped Pajamas will definitely make you forget how much money you have lose on paper...Remember that November and December are tough months for gaining weight..no bread....Of course, lets not forget Citi...what will happen over the weekend....?

Jack Bauer where are you??

This weekend the " Summit on Financial Markets" will be held in Washington D.C. Leaders of 20 nations (G-20) will attend. Emerging nations represented will include China, Brazil, Saudi Arabia, and Russia. Jack Bauer where are you? In 1944, a similar conference was held in Bretton Woods, New Hamshire. The purpose of this post WW II meeting was to ensure prosperity through economic co-operation. Does this sound familiar. President Roosevelt told the conference, " The economic health of every country is a proper matter of concern to all its neighbours, near and distant". Hopefully, this weekend will bring the beginning of Bretton Woods II.

The persistent question this week in many investors minds has been, "Who has the right answer to prevent the potential depression? The G-20 is searching for the elusive solution to our financial crisis. The stock market has declined precipitiously since that day last month when the Congress approved the $700 Billion TARP. It is clear that we have yet to find the answer to this debacle, but we are trying. Time is of the essence because the economy is 24/7. Jack Bauer was able to save the world in 24 hours. We hope this one is saved within 24 months.

Random thoughts....Hillary Clinton would be the #1 choice for Secretary of State...forget John Kerry or Bill Richardson....retail sales were near zero in October...forget November it will be worse...Banks are raising interest rates in order to get your deposits....they need all the money they can get...CASH IS KING!!!