Pepe' Le Pew

Pepe' Le Pew, a skunk that always strolled around in the springtime, thinking everyone loved him...when in fact he had three turn offs: a)His malodorous scent b) He had too much passion c) He could not take no for an answer. Sound familiar?

The large delegation travelling with the president, Jumbo C-5s and C-17's (that is plural) transporting his new Cadillac limo and three helicopters plus 500 staff and 200 secret service....plus hotels for all (five star), food specialists, medical personnel, eight days in Europe visiting five nations. The President should have a big smile on all the photo opportunities. Think of the hypocrisy and the tens of millions that will be spent by the Government on this trip. We will work our entire life and never even cover a fraction of the fuel costs (in taxes) to fly him over to the G20 meeting.

When in doubt change the rules, as we have discussed numerous times before. Now of course the revised version of FASB light on market to market accounting. A positive.

Congressional bonuses? Salary increases and bonus payments to all... just reported.....they said this is standard procedure every year.

Value versus growth? US value stocks held for the past 80 years ending in 2007 turned into $7,259 versus just $1,097 for growth stocks. We have been buying value stocks below book value for the past three months.

Cash is now being squeezed in the new quarter, oil's low is in, bonds have peaked and the great reflation trade/ investment is underway. Own equity over over debt. Creditor nations over debtor nations will continue to out perform! The market will retest along the way so no need to chase. As the USD is devalued... over the years ahead our debt will be paid back at pennies on the dollar.

One of the great assets of America is our legal system, while not perfect it is the best (by far) in the world. Ask any business person and they will say the same.....One of the hot buttons being pushed by the new administration is the willingness to view legal contracts as being rewritable. This is a bad precedent....and needs to be viewed with extreme caution..the law of unintended consequences will prevail....contracts everywhere are under assault.

If we were President we would have given a new Cadillac to all the heads of state ...just like Elvis did to all his friends and thrown in a Starbucks card too..

Danny Boy seen here, has been sprayed four times in the past two months by the local Pepe' Le Pew....and is tired of him.