I did hear talk today that they don't expect the fed to move at the next meeting. Another article in the Journal today focused on stated banning illegals from certain school programs and receiving drivers liscenses, yet it seems that with id cards, banks are giving them mortgages. And you are right with regard to jobs. Of course anyone without work papers shouldn't even show up in the statistics. With the layoffs planned by the auto and related industries, those being and going to be caused by recent large mergers in financial and other areas, I don't know where all these people are going to go. Service and construction are the only areas of employement holding up. I guess an auto worker can make the shift to banging nails, only they will need to relocate as no homes are being built in Detroit. I should be getting my prepurchase option from the fuel oil company shortly. I would expect the price to be up 20% or more from last winter, which was up nearly 20% from 2003. What inflation? I'll go out tonight and have a few pints of Bass Ale at $4.87 a pint. I remember paying $2.50 a pint when the place opened about 8 years ago. Thats pretty steady inflation, but at least there is little risk of me becoming an alchoholic at those prices.
I saw the story too. Did you see the part about the OTM (other that Mexicans)? How about the numbers of them that were released? 75% of those OTMs released never came back for their hearings. Surprise! The data that INS tried to hide from the people stated that the new growth in immigration is coming from South and Central America, most notably Brazil. It showed that 12,000 Brazilians alone were apprehended last year! Those were the ones that were caught. (146K jobs today? NOT nearly enough.) Economics trumps public policy.
It looks like the market is pricing in a Fed rate decrease right now.
MLHR share buyback has barely kept up with the dilution from the options. To make it easier, the company simply began to buy Volkema's shares rather than go open market. Haven't been short for quite a while as last time I got stuck for a while only to eventually make pocket change. I do agree with you with regard to the market. I haven't liked the up/ down movement for a while now, more than oil related, and have closed many positions, holding on to PG, BG, ENDP, IVX and a few biotech's. I may go mostly muni's for a while as I'd be happy with 6 1/2% free of fed tax. I've done well adding to my shares of DSM over the past year. I think there is a killing to be made going short mid and high priced retailers in the near future, but as always, the problem is the timing.Teen retailers have gone through the roof in the past year and it just can't last. I've never seen consumer spending so out of control based on economic conditions. Debt just keeps getting higher and higher. I guess our country sets a bad example for its citizens.