On CNBC's video feed on Yahoo! Finance, I clicked on "Allen Stanford Found by FBI, Served Papers" and the next in queue was "Obama's Stimulus: Finding the Inner FDR." Wow. We're busting this guy for bilking a few thousand investors out of $8 billion dollars, and we're still idolizing a man who bilked 500,000,000 innocents out of countless trillions of dollars of economic opportunity. The burden and corruption of FDR's massive federal government is with us today, robbing every successive generation of true economic justice (justice before the law and property rights) by attempting to deliver an undefined and elusive economic justice of outcome, regardless of talent or effort. [more]
Did you hear the latest news? Bernie Madoff promised investors only 4% returns per year, not 8% as previously thought. And he would have been able to do that, he just needed to keep borrowing more money from new sources of credit, that's all. He really intended to borrow enough money to pay off all of his obligations. So he shouldn't go to jail, right? He really did want his investors to be happy and have all the money they wanted. So why be so hard on the guy? [more]
I have top-10 players following me again. (Hope I'm not embarrassing you, Chris.) [more]
I had a strange dream last night. I dreamed that Nam Tai Electronics had to restate the cash on their balance sheet, a la Satyam. If you believe in the predictive power of dreams, sell now.
Meanwhile, I'll keep buying. I know my dreams. They aren't predictive worth a crap.