Arnold’s Ramblings 6-21-2011

Arnold has such a headache! Yesterday, Arnold foolishly watched CNBC (as usual) at about 8:00AM to see how the markets were going to open. Instead of market news and commentary, yesterday there was a debate between Congressman Ryan (R) of Wisconsin (the architect of the Republican budget) and Jared Bernstein, formerly Vice President Biden’s chief economist adviser (do Vice Presidents really have their own economic advisers?). Oy veh! Rep. Ryan basically took the Republican position, and Bernstein took the progressive position. It was, well, it was… Arnold still has such a headache. I think it is best described as the defense at the Casey Anthony trial (in Orlando). Confuse the listeners. Arnold understands most economic concepts and after this “debate”, Arnold was incoherent for most of the day yesterday.

There are some extremely important issues going through the courts. The key one is whether the NLRB (the National Labor Relations Board) can dictate where corporations open new locations. This regards Boeing building a billion dollar facility in South Carolina, rather than building it in Washington State. It seems that this 3000 jobs are not in Washington, but in South Carolina, which is a right to work state. Boeing has added over one thousand jobs in Washington. It seems that the NLRB can dictate where jobs are in the US (if the courts agree with them), but can not stop jobs from moving off shore.

•  The DJIA looks higher after still a possible correction.
•  Gold looks higher to new all time highs.
•  Interest rates are still in a trading range.
•  The dollar is also in a trading range for now.
•  Oil looks as though it is bottoming.
•  Real estate looks much lower.
•  The economy looks weaker.

Arnold
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Arnold Goldin

Prior to 1980, Arnold Goldin worked in various publicly held companies rising to the position of Assistant Corporate Controller of US Surgical Corporation. From 1980 to present, Arnold has served as President of Arnold S. Goldin & Associates, Inc. (and related and associated entities), providing accounting, tax and management services functions to individuals and corporations throughout the United States. Since 2002, Mr. Goldin has also written an e-zine related to geo-politics and finance, which can be found at arnoldsramblings.com.

The views expressed are those of the writer and do not necessarily represent those of BIZPAC Review, its management, staff or advertisers.

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