Barrow Bits

Clean Coal

In his campaign Barack Obama often mentioned clean coal as part of his alternative energy agenda.  Indeed, he even mentioned clean coal in his speech to the nation earlier this week.  He also mentioned the desire to reduce carbon emissions.  As readers know I have been invested in a clean coal company by the name of Evergreen Energy (EEE) for a long time and at times have been frustrated by the lack of progress for the company.  However, at this time and price I believe this stock is virtually a no-brainer.  Please do your own research, since there is lots of current info on the company that clearly places it as a perfect fit for the Obama energy agenda.  I'm expecting big results for this stock from the current level.

Drudge Drivel

There was a time that I would log on to the Drudge Report several times a day.  I found it timely and somewhat leading edge.  Yes, it was tabloid Internet but it was informative.  Today, the Drudge Report has morphed into an anti-Obama web site pushing the most arcane of stories just to discredit the economicinitiatives of the Administration.  It's clear Drudge wants Obama to fail and fail big time.  Drudge probably wants social unrest and crime to spread that can be linked to failure of Obama policies.  Think of all the great headlines for Drudge.  To be sure, America has freedom of the press and Drudge can sling his crap, but I sure don't have to build his hits anymore.

Restoring Confidence

President Obama gave a great speech last night.  No doubt he is a great speaker, and his more postive tone about the future was nice to hear for a change.  Whether or not his speech leads to a better environment for stocks is problematical.  Wall Street does not seem to like the president too well, and therefore I'm really not expecting any positive reaction today as a follow-up to yesterday's reflex rally. 

Is there any hope?

I just can't remember a time in the financial markets when the gloom and doom has been so thick.  And since I'm no youngster that's saying something.  It seems that all hope for a recovery is gone and that it's now a given that we are heading for a full blown depression.  Thanks to a constant din of complaining by Republicans the stimulus package is already deemed a failure with no hope of helping the economy turn the corner. The stock market is at a bear market low and you can feel the fear growing on a daily basis.  Nationalization of the banks seems to be in the works and unless there is a very quick turn in sentiment we are heading into economic chaos, which in my view will be followed by social chaos the likes of which have never been seen before in this country. Is it always darkest before the dawn, or is it always darkest before it's pitch black???

It Feels Like a Depression

In traveling around the city yesterday it struck me that perhaps some aliens have visited earth and took away at least 25% of the city's population.  I never remember NYC being so quiet.  It's like it was right after 9-11.  Very scary to note all the empty restaurants and for rent storefronts.  Every day brings new tales of acquaintances that have lost their job, or worse.  It's a disaster, fueled by an eager media ready to criticize Obama on a moments notice.  It's sick out there and getting sicker. Must be a low for the market. 

The Baltic Dry Index

In recent days I have come upon something I find interesting called "The Baltic Dry Index".  Take a look, could be a good market signal.

A Chinese Curse

There is a famous Chinese curse that goes "may you live in interesting times".  To say the least, the current time frame definitely qualifies.  I have never seen a situation like this in all my years of monitoring economic and political trends.  We now have a society in which the "media" is far more important and influential than political figures. This is a new age that makes it very difficult to predict where this economic situation is really heading.  Major changes are afoot and some of the likely outcomes are very scary.  The U.S. Banking system must be re-structured and the sooner the better.  Real estate must recover.  Unless these situations are mitigated the economy cannot recover.  Interesting times??????????

I Can't Stand It Anymore

I just can't stand it anymore.  Turning on the TV and listening to the cable news channels proclaim the imminent demise of the financial world is more than I can take.  First off, I resent the fact that the so-called talking heads on these outlets are morons, totally unqualified to be rendering opinions on complicated financial problems.  It's all theater.  I really believe that a good part of this mess can be firmly placed on the feet of the media, and in my view especially Fox Business News.  These creeps lovedisaster and that's what they are helping achieve by a constant barrage of depressive feature stories.  Yes, times are tough.  You can see that by just walking around Manhattan and seeing all the store vacancies.  People who can afford to "consume" are not doing so because the are scared to death by all the negative news.  It has become a self-fulfilling prophecy.  Is the real power in this country not in the political class any longer but in the media class?

The Blame Game

Who is responsible for the current dismal financial situation?  For my part, I blame the Republicans who controlled Congress for so many years, and spent like drunken sailors, while giving tax cuts to the well-off.  At the same time they passed legislation that led to less vigilance by regulators.  How can you excuse Bernie Madoff getting away for what he did for so long?  Anyway, Time Magazine has an extensive list of guilty parties and it makes for interesting reading.

I Love the NY Times

The NY Times in today's editions says the Geithner received a "lukewarm" reception on Wall Street.  Please.....................................................what would a bad one be, a 1,000 point drop in the Dow?????????