It has taken four months for the indictments to come down, and if any of them are true, and I suspect they all are, it’s not a day too soon. That’s right, I’m talking about former Governor Rod Blagojevich who is now being charged with 16 felony counts, including racketeering conspiracy, wire fraud, extortion conspiracy and lying to federal agents. The government is seeking forfeiture of $188,370 from Blagojevich and will try to take his Ravenswood Manor home in Chicago if needed.
And to think, this started with everyone thinking his pay-to-play effort to sell President Obama’s vacated seat on the US Senate. Now it seems like that’s the least of his crimes, and considering his elected status, that’s pretty bad. What bothers me most is that of all the groups that should self govern – politicians appear least willing to look at their own and ask the hard questions. Rod Blagojevich should be publicly stoned by anyone that cast their vote, and those that stood with him, knowing of his crimes, should be right there with him.
The markets are changing and depending on who you talk to (or which way the wind is blowing) we have a bear/bull market coming. What you do with that information is up to you, but most “analysts” seem to think that the end is still a ways off and that the market is going to capitulate for months to come.
And, frankly, I’m okay with that. The Dow was up over 200 points today – and to me that’s a good thing. But, if it drops 400 points tomorrow, that’s okay, too. I’m neither bull nor bear, but I am a writer that wonders – what’s it matter? Bear market? Bull market? Who really cares?
The answer to that is obvious – investors and news media care. Investors so that they have an excuse for their successful guessing or misplaced optimism, and the news media because nothing sells like confusion (unless it’s blood, gore, or Britney Spears, of course.) In this time, when consumers, investors, and even our leadership is shocked and running around like a three legged frog on the highway, bad news sells because in the absence of something positive, the average person is going to grab onto whatever they can find.
My take – bear or bullshit – it doesn’t matter; the media is going to help with your decision.