Think of this as Volume 16, Number 17 of A-Clue.com, the online newsletter I've written since 1997. Enjoy.
Something about this latest market move south troubles me.
It may have to do with the politics of the players. I've been writing at Seeking Alpha for almost a year now, and if there is one thing I've learned it's that most of the voluble small investors I see there are Republicans. Usually conservative ones.
Which means they buy the whole malarkey of the right. That the only way out of deficit is to throw grandma from the train. You can't raise taxes on the “wealth producers,” because they'll either quit or move. We can't cut the military budget, neither. Nope, it's break the promises of two generations, Medicare and Social Security. Otherwise you're not serious.
Something else I've observed about these folks. Pessimism doesn't quite cut it. Cynicism doesn't quite cut it. Armageddon-ism sounds closest. They assume the worst in people, they see unmitigated disaster at every turn, yet they seem to assume someone other than themselves will suffer when that happens.
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