Good news: “Glenn Beck signs new, $100 million radio contract” – We’re not posting a link – it’s all over the Web today. But here is another example of a courageous political person standing his ground, standing up for his principles and ideals, and winning. Sweet, sweet payback.
Go cry in your beer, liberals who think you won when Beck left Fox News. Since you don’t listen to Right Wing Talk Radio, you’ll be taken by surprise again and again in the coming years. TV does not reflect reality on the ground.
Bad News – The Scott Walker bounce is over! Bailouts of banks, including Spanish banks, don’t convince the market that all is well. We think most investors, including big fund managers, are looking at fundamentals in the U.S. economy, and aren’t too happy with what they see.
Sure, they were encouraged by the Walker and Calif victories which show that voters will be giving some government entities tools to solve their budget problems, but there’s more to the picture. Housing and unemployment are still big weights on the economy.
Sure, Texas and Wisconsin and a couple of other states are doing pretty well, (“fine” as the President would say), but overall, there’s still a long way to go.
News: good? or bad? “Chicago public school teachers authorize strike” – Good, because the alreadly-fed-up public will have one more demonstration of the arrogance of teacher union leaders. Bad, because teacher union bosses still haven’t learned their lesson
Our own investing plans given this chaotic situation? We’re sitting tight. No buying. No selling. And yes, that IS a decision. It’s a decision not to decide for a little while.