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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Monday, November 24, 2008

Weekend News Round-up

Obama plans to add jobs by 2011 My Spin: A president that articulates there IS a problem, and it will take YEARS to address? How refreshing.
GM considering Bankruptcy My Spin: It's a crime that financial institutions are too big to fail by the words of the US government, but GM is OK to fail. I don't want either bailed out, but its a sham that wall street is chosen over main street.
Home Builders plead for financial aid (bailout) : My spin: LET THEM ROT!
Government has "cold feet" bailing out Citigroup: My Spin: I won't commend on companies that have interests in insurance industry.
Congress announces 700 Billion dollar stimulus package to be proposed under Obama: My Spin: GDX is looking like money in the bank.
Good article explaining current deflation, and possible risk of inflation My Spin: GDX, yawn, I'm repeating myself.
Fed Pledges in total 7.4 Trillion dollars in collateral, 25K per taxpayer of new debt. My Spin: Take a guess, come on....GDX play looks better
More state aid for UBS
Mainland China to help Hong Kong with financial crisis. My Spin: China has no debt, so they can do it!
DSL siezed, may cost FDIC 2 billion My Spin: I should have held this short to zero.
E-Trade is in trouble, needs financial aid My Spin: LET THEM ROT!
California unemployment jumps over 8% My spin: Wake me up when its 16%.
Financial service industry to lose 350K jobs by mid 2009 My Spin: Can't say it wasn't expected, at least my job is safe?!?
Bernanke: I Blew it My Spin: He's not admitting the worst part, US taking on so much debt will have unintended consequences in the next few years.
China's 2nd richest man detained for possible stock manipulation My Spin: when was the last time a top 25 wealthiest person in the USA was detained.....much less #2?
UPDATE 11/24/08 - US Dollar is devaluing, which means stocks should rise & so should gold/resources.

President Obama speaks on his plans for America's recovery, and he's realistic its years to make a recovery.

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