At times it seems pointless to go and work all day for a small sum, only to come home and find that the public's further recognition that the nation's economy and markets are principally the domain of fools and swindlers has driven 'investments' down massively between sunrise and sunset.



I know we are supposed to view that portion of our savings that we have entrusted to the vagaries of the stocks and bonds with a long term perspective, but now that whole song and dance delivered by our 401K custodians and other market minions is starting to look like a colossal con.

It seems the parade of officials from the Federal Reserve and Treasury appearing before congress have lost all credibility. I had hoped that a changing of the guard might change that dynamic, but it continues to appear that no one has a clue about what is going on or what to do about it.



Headline from this morning...

Administration Officials Met With Laughter At Bailout Briefing

Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner's new financial-sector bailout project, according to people who were in the room.

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