Is it me or is this year just flying along? Here we are at mid-summer and you can already feel the days are getting shorter. So far its been a scorcher with heat records set across the country and with a severe drought devastating the country's mid-section which will mean higher food prices for us all before too long. The summer has also witnessed an earlier than usual dose of nasty presidential politics leaving most voters thinking the worse of both candidates. Obama in my opinion is still the slight favorite only because Romney is setting new levels for stupidity and being an asshole. Really folks he is the pits!! Still with FOX News providing him with daily propaganda pieces and the fact that lots of people hate having black people in the WHITE HOUSE Mitt-Witt could still pull it out. This is the view at mid-Summer but remember that 24-hours is a lifetime in politics and anything could and will happen before now and November.
This summer has also put to rest the myth of Joe Paterno and Penn State. I never did like the man or the institution but I never believed he was as bad as he turned out to be. He and his like are human pollution who put pride and money before protecting little children. I think Penn State got off easy. They should have been banned from fielding a football team for at least five years. The type of crimes committed by PSU and Paterno must never happen again. This is what a cult of personality brings forth.
The stock market continues to have no discernible direction in my view having been bitterly disappointed with the Facebook travesty of this summer. Also, for the life of me I can't figure out why all the crap in Greece and Spain should cause such daily gyrations in US share prices. By strictly valuation standards many big name companies are bargains but the confidence in the markets has been so dampened by scandal after scandal causing long term individual investors to stay in cash leaving the markets to the mercy of ruthless traders. I have finally come to the conclusion that the markets are indeed rigged and putting your money in the mattress is better than investing in stocks. Sure gamble with some high risk stocks and have some fun. But as for investing stay away from stocks.
Well it's fast approaching cocktail time here in Jackson where this summer I have discovered the pleasures of Diet Coke and Tequila with a smidgen of lime juice. Cheers to all and have a good weekend.