Thursday, June 23, 2011

More fear. Watch Burr and Republicans kill off our economy.

As I type, the financial markets are in a state of fear again. We're down over 200 in the DOW and the VXX (gauge of fear) is trading 5%+ higher. The negativity within the professional trading community is simply off the map. I read all the negativity daily in blogs, discussion boards and in Wall Street research and related press, and I hear it on CNBC and Bloomberg. It's a never ending drumbeat of negativity.

I can't recall a point in my 12 years of trading that it has been this bad. Not even in the fall of '08. Back then, no one had a clue how bad our world's economic situation was. We didn't know until after the fact just how terrible the failure of Lehman and AIG would impact our markets. We didn't know the extent of wealth that would get destroyed, causing a cascading effect of selling, until much later. We didn't know until after the fact that housing would crash and burn so badly. We were reacting to the bad news after it was delivered.

It's different this time. It seems that professional traders are anticipating some absolutely horrible news on the horizon. Take your pick. Wars all around. Peak oil. Greece. Over-leveraged governments. Idiots in Washington DC. A relentless Republican attack machine. Austerity staring us in the face. How in the hell can anyone be positive in this environment?

And that's where our political leaders fail us miserably. Not a one. Not a single politician out there is making one ounce of effort to be positive on America. Not even the 3rd string bench warmers, like our good for nothing Republican Senator Richard Burr, has a clue just how psychologically damaging it is to Americans when our politicians do nothing but point fingers and criticize.

They're all idiots. And they all deserve to have their sorry butts kicked to the curb. But the ones who've been there the longest are the most deserving of our wrath. And that includes our sorry Republican Senator Richard Burr. He's been in Washington DC for 15 years, yet he still launches psychologically damaging attacks placing the blame on everyone but himself.

Look in the mirror Senator Burr. You're the problem.

North Carolina deserves better than Republican Senator Richard Burr.

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