By all indications, the Occupy Wall Street movement around the country has become violent, and the instances of violence are apparently increasing. The police are attempting to deal with the situation, but thus far the violence has been minimized by the media and by the Obama administration. The constant comparisons to the Tea Party by the Democrats, and the President not withstanding, just do not hold up. There was never any violence at Tea Party events. There were never arrests at Tea Party events — and that is just the starting point. There was never drug activity at Tea Party events. There were never sexual assaults at Tea Party events.
The situation in Europe is becoming less comprehensible. Greece has a new (Prime Minister) government. Italy appears to be in the same situation. France has elections for a new government, and while the election is a somewhat in the future, it appears (today) that Nicholas Sarkozy will lose to the Socialist. The Europeans appear to be embracing Socialism (again), when it is socialism that got them into this mess. So, if in fact the Europeans bring in Socialist governments to “solve” the problem, it is Arnold’s guess that in the end the situation will become worse.
Herman Cain is now accused of four sexual harassment claims, one of which came forward yesterday. Whether the “facts” as indicated by the accuser can be independently verified or not will tell the story. Did the accuser stay in a suite that Herman Cain personally paid for at the Washington, D.C. hotel, as she claims? If, in fact, Mr. Cain paid for the accuser’s hotel suite, that would not help his cause.
- The DJIA is falling somewhat, and should have already fallen off a cliff based upon the news. This suggests one of two events: a huge move in either direction.
- Gold has been rising again, but I still do not believe that gold will rise above $2000 per ounce.
- Interest rates are still in a trading range.
- Oil has shot up to the mid $90’s; we could see $100 soon.
- The dollar has been holding more or less and should start to rise again by year end.
- Real estate pricing is still down, and there are attempts to drive prices higher because foreclosures are down, but Fannie/Freddie and the banks are holding over two million properties they own off the market.
- The economy is starting to look somewhat stronger. Restaurants are busier, and Starbucks appear busier, and other indicators suggest that the economy may be moving forward.
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