Random thoughts before the weekend

First thought: watch for stocks to fall tomorrow. Things are getting gloomier.

The Fed is getting less optimistic all the time. Yesterday was no exception. They came out and said things look rough.

Added to that, unemployment is on the rise.

Finally, one Mr. Bill Gross of Pimco (manager of the world's largest bond fund) recommended publicly that the Federal Government should start buying up shares of stocks or risk a--get this--"financial tsunami".

Ow.

Doesn't sound very good.

Add to the above which, really, came out earlier today--Thursday--the government has what is expected to be more bad news to announce in statistics tomorrow morning.

As of this moment, the London FTSE, Hong Kong's market and Japan's NIKKEI are all down.

If you can sell--particularly bank stocks--do it right now, right away.

Sell. Definitely sell. Now.

(full story here: http://business.theage.com.au/business/steps-needed-to-halt-financial-tsunami-20080905-4a3a.html)

Finally, to close, instead of trashing Sarah Palin (or John McCain, for picking her), let's let her represent herself in her own words:

"As for that VP talk all the time, I'll tell you, I still can't answer that question until somebody answers for me what is it exactly that the VP does every day?" --Sarah Palin, in an interview with CNBC's "Kudlow & Co."

"I've been so focused on state government, I haven't really focused much on the war in Iraq." --Palin

"It's great to see another part of the country." --Palin, campaigning in Pennsylvania

And then there's her family and friends:

"I'm not sure what she brings to the ticket other than she's a woman and a conservative." –Sarah Palin's mother-in-law, Faye Palin, who said she may vote for Obama

"She's old enough. She's a U.S. citizen." --John Harris, Alaska's Republican speaker of the house, when asked about Palin's qualifications for vice president.

If John McCain can and does get elected President this Fall, he will defy all American history. No candidate of the same party that's in power in a really bad, down market gets elected. Add the fact that he's a really old dude who's out of touch, with bad judgement. a temper and a really awful pick for his VP and it just looks like he couldn't possibly be elected President.

Unless all the racists pour out for the election, God forbid.

At least the brutal heat of summer is over, huh?

Have a good weekend, y'all.