"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey

I was listening to Michael Savage on the radio a few days ago, and when he referred to the Bush administration as "A Bunch of Ivy League Frat Boys", I laughed until I cried. This is so true. If you stop and think about it, "Ivy League Frat Boys" have been running our government and Wall Street for the benefit of their families, or for the families and friends who have controlled the wealth in the our nation for many decades.

Michael Savage is really interesting to listen to. I happen to be conservative (but flexible), but I don't share the same views as the Republican Party (nor the Democrats) today. Here is how Mr. Savage defines the differences between Republicans and Conservatives. Very interesting.

The Wall Street bunch is on vacation until after Labor Day, some are at the beach, some have to work and are in Jackson Hole, Wyoming. In any event, the rookies and hedge funds are in charge right now.

I find it odd, as the Olympics are nearing an end, oil and commodity prices spiked dramatically yesterday. I really have no clue as to if or when the oils and commodities will rally. Its up the the "gang" and China. If China restarts the 40 manufacturing plants they shutdown prior to the Olympics (to curb the pollution problem in Beijing), those muted inventory numbers for energy could begin to reignite the oil markets again.

The only other factor that could hold energy prices down a little longer is the election. I really don't think there is massive demand destruction. The real temporary falloff in demand has got to be China- IE- the Olympics.

I'll have my comments on the stock market this weekend. Attempting to intelligently decipher what is going on until after Labor Day, the Olympics, and the elections is like trying to get a straight answer from a falling down drunk. Why waste our time?

Since we see the big picture, and know what it's telling us, why should we keep repeating ourselves.

Enjoy the rest of your summer! As for us, we are waiting for tropical storm Fay. If I don'y post anything over the weekend, it will be because we lost power. I don't think that will be the case however.