FOREX last trade...$1.0127 CAD vs USD
6 months from now when gasoline is $4.00 per gallon and food costs are
killing the consumer, people will be asking: "What was Ben Bernanke
This latest rate cut was purely political.
"Investors were carrying through from last week's concern that a fiscal stimulus proposed by President George W. Bush would not be enough to stop the U.S. economy from falling into recession and that the downturn will spread."
Monday January 21, 2:29 pm ET By Jeremy Gaunt, Reuters [more]
Last week I shorted a handful of airlines as they rose 15-20% based on nothing but speculation on mergers. While today is not a good day for my choices, I am consoling myself with the wisdom of the Egyptian investment god, Apis the Bull, who speaks:
"If you take the dung ball from one beetle, and combine it with the dung ball of another beetle, you only end up with a bigger piece of crap."