The big issue once again is leadership and the 70’s generation’s inability to exhibit any.

As I put fourth in the last post the market has just about sold off everyday since the FED meeting and to readers of this blog that should be no surprise. The FED has once again talked the talk, waffled, but failed to walk the walk.

On the positive I don’t really think the economy is half as bad as we have been led to believe, after all productivity continues to grow which is virtually unheard of during a slow down and unemployment remains relatively low. Inflation for all the talk is still low compared to the 70’s, but still a long term treat and high compared to recent years .

The big issue once again is leadership and the 70’s generation’s inability to exhibit any. The lame 1970’s style political solutions are pushing the market down and will continue to do so given the vast failure of all these government first, tax and regulate everything that moves policies .The thing any keen market observer should take away from the 1970’s was the utter failure of the policies of that time period and the grave consequences that followed. So don’t forget to take profits from time to time but stick with the Ag ,Energy and Precious Metals trades that have performed so stellar year to date and given the possibility of an emergence of a “second jimmy carter “ presidency this trade should stay in tact for some time .