SOCIALISM...REPUBLICAN STYLE

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Sunday October 19, 2008 · 12:56 PM PDT

2008/10/19 · 12:56

McCain and Palin...oh and the rest of their Republican supporters are so out of touch with the concepts of socialism, like virtually all of McCain's campaign tactics, the use of these labels is only designed to frighten uninformed people into once again voting against their own interests. It is likely to fail, thankfully.

ClearTheMist

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Friday October 17, 2008 · 11:15 AM PDT

2008/10/17 · 11:15

The Republican party, John McCain, and Sarah Palin need to get over themselves. We've heard all too much about ACORN and alleged voter registration fraud. We've heard all too much about William Ayers and the lack of a relationship with Barack Obama. We've heard enough about the aforementioned parties' lies about the Obama tax plan raising taxes on the middle class.

ClearTheMist

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Wednesday October 15, 2008 · 8:11 AM PDT

2008/10/15 · 08:11

I don't know about you, but someone might infer a slight hint of racism in John McCain's comments to one of his overstated crowds the other day.

"We're a couple points down, OK, nationally, but we're right in this game," McCain said to cheers. "The economy has hurt us a little bit in the last week or two, but in the last few days we've seen it come back up because they want experience, they want knowledge and they want vision. We'll give that to America."

"We're going to spend a lot of time and after I whip his you-know-what in this debate, we're going to be going out 24/7," McCain said.

ClearTheMist

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Monday October 13, 2008 · 2:48 PM PDT

2008/10/13 · 14:48

Recalling the post of October 12: "If there is a solid glimmer of sunshine before Monday's opening of New York trading, we may very well see the markets continue its bounce off Friday's lows. But few bear markets end so spectacularly. And we still have a major recession to account for, increasing unemployment, slowing or declining exports, and a continued slide in home values. So once worldwide credit markets begin to stabilize, all eyes will focus on the future, and it does not look very bright for the next year or two from where this person sits."

Today Barack Obama unveiled his own short-term stimulus plan that included tax credits for businesses that hire new employees, limited tax-free withdrawals from retirement plans, a 90-day foreclosure moratorium, a doubling of the $25 billion in loan guarantees for the U.S. auto industry, among other middle-class friendly recommendations. And he is calling for them now, not in January.

Today's John McCain plan: "The campaign for Republican presidential candidate John McCain on Monday criticized an economic rescue plan suggested by Democratic rival Barack Obama, saying that it focused too much on new government spending."

ClearTheMist

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Sunday October 12, 2008 · 2:21 PM PDT

2008/10/12 · 14:21

Let's review some scary stock market history - of 2008 - shall we?

Prior to restarting "Clear The Mist" on September 22, 2008, this commentator had a history of increasing concern about the potential for a major bear market, particularly after the failure of investment bank behemoth Bear Stearns.

So what's next this coming week? At this writing, Sunday afternoon, it remains unclear if statements by Henry Paulson at Treasury, and negotiations with our European and Asian partners will be sufficient to calm markets and free up the credit markets. If there is a solid glimmer of sunshine before Monday's opening of New York trading, we may very well see the markets continue its bounce off Friday's lows.

ClearTheMist

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Thursday October 09, 2008 · 2:39 PM PDT

2008/10/09 · 14:39

First to General Motors and Ford Motor:

This morning, I cautioned about the precarious nature of the U.S. auto industry. Today's stock performance of Ford and General Motors was startling. GM declined nearly 30 percent today. Ford declined nearly 19 percent. Late in the day, it was disclosed that credit ratings on GM debt may be cut.

The market value of General Motors is now just about $2.7 billion. Its peak in 2000 was $52 billion. In March 1929, GM's market value was $4 billion. 1929. As much as the company has grown since 1929, its market capitalization is a third lower than it was prior to the start of the Great Depression.

ClearTheMist

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Wednesday October 08, 2008 · 8:20 AM PDT

2008/10/08 · 08:20

Those that know me well, know that I am extremely skeptical of anything that smacks of a "conspiracy theory." I rejected the idea that the World Trade Center attack on 9/11 was an inside job. I don't believe that pharmaceutical companies are selling mind-control agents, turning otherwise rational people into neo-conservative right wing fascists. I do not believe that the Apollo lunar landings were faked on a Hollywood soundstage.

And I'm not certain that I believe the information that is contained in the web links listed below. However, I must confess: for some time, there has been a teeny little voice in the back of my head - or pit of my stomach - that there could be an October Surprise in this year's election cycle. I actually toyed with the idea that, if not this year, then in some election year, there could be a fabricated rationalization for the postponement of a November election and even the institution of marshal law.

ClearTheMist

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Tuesday October 07, 2008 · 11:38 AM PDT

2008/10/07 · 11:38

While the stock market has not yet closed for the day, it is down well over 300 points at this writing. Most of this decline has come since the beginning of Federal Reserve Chairman Ben Bernanke's mid-day conference and press briefing.

I'll get back to that in a moment...

Shares of clearance-priced goods retailers Big Lots (BIG) and Family Dollar (FDO) are trading down substantially - in light of the fact that the impact of the recession is increasing almost daily.

Seems like the folks that typically rely on this class of low-end retailer are not even shopping. This strikes me as disturbing. You would think that at least expectations for these retailers might be holding up, given that more people might have to resort to shopping at their stores in order to save money. What is this saying about expectations for the severity of the recession and its deepening in the months to come?

Many people have argued that Ben Bernanke is either the right person in the right place at the right time, or that he is way out of his league. It crushes me to have to paraphrase CNBC market pundit Jim Cramer when he screamed on television during the summer of 2007 that Bernanke had to go!

But he convinced me that "HE KNOWS NOTHING!!," to famously quote Cramer.

ClearTheMist

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Monday October 06, 2008 · 4:16 PM PDT

2008/10/06 · 16:16

Good News.....I say partly tongue in cheek.

Oil down 40 percent
Natural Gas down 48 percent
Heating Oil down 41 percent
Gasoline down 41 percent
Corn down 46 percent
Wheat down 40 percent
Copper down 38 percent
Cattle down 15 percent

The implosion in commodities prices that has accompanied the implosion in securities markets is, in one sense, a great blessing for consumers. Barring an unlikely reversal, we should see lower gas prices, lower winter heating bills, even lower food prices.

ClearTheMist

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Sunday October 05, 2008 · 12:39 PM PDT

2008/10/05 · 12:39

After reading the details of John McCain's healthcare proposal, the one in which he says you'll receive a tax credit of $2,500 and $5,000 for families - sounds great, doesn't it - he downplays the fact that as part of his plan, employer-based health insurance plans would become taxable income to employees.

So let's take a look at a real-life example:

ClearTheMist

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Saturday October 04, 2008 · 12:02 PM PDT

2008/10/04 · 12:02

The October 3, 2008 New York Times provides a detailed and scathing indictment of Bush administration anti-regulatory policies, gutting regulatory oversight and competence, and the incompetence of the S.E.C. under Bush.

ClearTheMist

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Friday October 03, 2008 · 8:14 AM PDT

2008/10/03 · 08:14

Follow the link below to Charlie Rose's enlightening October 1 conversation with Warren Buffet. Warren has a wise take on the importance of the government taking action, and taking it immediately.

http://www.charlierose.com/...

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SOCIALISM...REPUBLICAN STYLE

GET OVER IT, ALREADY

WHIPPIN' BUTT

END OR BEGINNING? Part Deux

END OR BEGINNING?

AFTER THE CRASH? OR...

I DO NOT BELIEVE IN CONSPIRACY THEORIES...I DO NOT BELIEVE IN CONSPIRACY THEORIES...I DO NOT BELIEVE

YOU KNOW YOU'RE IN TROUBLE WHEN...

GOOD NEWS!

McCAIN'S HEALTHCARE CATASTROPHE - AN EXAMPLE

PLACING BLAME

WARREN BUFFET SPEAKS