Arnold’s Ramblings 6-14-2011

Well this is an exciting week with the third week of Weinergate, the illustrious activities of Congressman Anthony Weiner of New York. Apparently, Congressman Weiner likes to take pictures of himself in various modes of dress and then sent them out to women (so far) for his and their amusement. And this is a sitting Congressman! This is just another in the long line of sexual or pseudo sexual scandals involving Congressman of both parties. Mr. Weiner, being a Democrat, ordinarily would have shielded him from all of this media frenzy, but because it appears to be getting in the way of the Democrats message (you know: that the Republicans want to line up all of the senior citizens, like on the St. Valentine’s Day Massacre in Chicago in 1932 and kill them). So, once Mr. Weiner resigns, then we can return to the Democrat’s reality.

President Obama gave a fundraiser in Miami, Florida yesterday in a hall holding about 2,300 people in which tickets were $44 a piece and ONLY 980 sold. During 2008, President Obama drew 25,000; now as President he is drawing less than a thousand.

With the economy weak – at best, the discussions over the raising of the debt ceiling are getting more and more difficult. To update you, here is where both parties are reported to be: The Democrats want to raise the debt limit by $3 to $4 trillion; and INCREASE spending. But under pressure, they are apparently prepared to cut $1 trillion over 10 or more years from the latest PROPOSED budget with $1.5 trillion deficits. The Republicans are demanding at least as much cut as what the debt ceiling increases. It is not clear from what these cuts will be made. Neither plan is very good. Substantial cuts need to be made, and these cuts need to be made quickly.

Last night I was watching various news programs on television, and to my horror, two different commentators were saying that ALL OF THE WASTE has already been rung out of the Federal budget. arnold was in complete shock. All of the waste has been cut. give me a break. I could cut hundreds of billions of waste PER YEAR without even building up a sweat. Yeah, right!

The DJIA seems to be recovering, before another correction.

Gold is in a trading range, and may very well rise to new highs before a larger, sharper correction takes place.

Oil is in a trading range.
Interest rates are also in a trading range, and yields should start to rise soon.
The dollar has rebounded some, but it still looks lower, before bottoming.
Real estate pricing continues to look much lower.
The economy continues to look very weak.

Disclaimer: (found at Arnold’s Ramblings Inc. and/or its writers, representatives, employees, shareholders, executives and affiliates may have a financial interest in any security recommended to readers or otherwise mentioned. Nobody associated with this website or Arnold’s Ramblings Inc. is a registered investment adviser. Everyone should review investment materials in detail and with due dilligence when possible, and should consult proper counsel prior to investing. All information and advice presented by Arnold’s Ramblings Inc. is believed to be accurate and reliable when posted, but cannot be guaranteed.
Copyright 2011 Arnold’s Ramblings Inc., All Rights Reserved.


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Arnold Goldin
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