Friday, June 27, 2008

The market couldn't find a buyer yesterday. Markdowns were everywhere. The closing bell couldn't come soon enough. Then, later in the day, Obama wrote a personal check to help cover the cost of Clinton's massive campaign debt, beginning that process. New lows were reported in Americans' distrust of financial and corporate institutions. Cleveland reported a slight gain in real estate prices. Not a good sign when Cleveland --the poorest, most beaten down big city in America-- is your economic indicator. The Cleveland bounce?!

I could swear that as I awoke this morning, I could almost hear that arcade game sound effect, the tumbling, descending tones that tell you in no uncertain terms "game over." Time to face that music, pay up, and try again, with a different strategy, a different goal, hopefully.

Could I be wrong? Too soon? Too optimistic? Yes. Sure. Of course. But I hope not. We need to get through this phase of acceptance that this era of big corporate payday/small government influence is over and actually help guide the pendulum in the direction it will swing. Better that than continue to fight it at even higher cost.

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