CORE US INFLATION SLOWEST ON RECORD!

We enjoy the news paper head lines today. Remember these are always wrong.

Facts:
1) Muni bonds fell 10% in the past week...now everyone who bought in the past year is under water!
2) We now export ethanol to the rest of the world...remember we subsidize producers all at a loss....a material loss...$7.7 billion in 2009 alone!
3) Coal, iron ore, corn, copper, cotton and polyester all up double digits last several weeks..or year to date

We know inflation is now being exported from China.

We calculate what we don't want to own....cash or bonds.....we want to invest in beneficiaries of inflation: a) Astute management b) Over capitalized balance sheets c) Companies in a leadership position with pricing power (bigger companies) d) Companies with a global reach and diversified portfolio of products.

Calvin Coolidge once said, "The chief business of the American people is business." The Democrats just lost America because they forgot that. Reported the WSJ.

Is winning expensive? Not as much as losing!

It is ours not mine. It is we not me.

All things related to hydrocarbon are under owned, under priced, have the brightest ten year future, the leaders are over capitalized and managed by career people.

Danny Boy seen here...happy the transition has begun.