miscellania...

I just got a few points to make for today.

First, I saw the latest issue of the Contrarian Chronicle. Normally, I think Bill has some great points. He can tell when things are undervalued, but his timing's off. He was screaming about housing being overvalued a year and a half ago. But he's off his rocker today.

"The Fed wants to be loved. It doesn't want to be the tough cop. "

Yeeeeeaaaah. Right. What if the Fed wants to be feared? Bernanke hasn't wanted to be loved so far. To the contrary, he caused a $2 TRILLION meltdown in global stock markets and commodity markets simultaneously, and he still raised rates again last month. Tell me again that he wants to be loved.

Next point.

Everyone wants to be a contrarian today. It's like being a nonconformist. Nowadays, half the younger generation wears the nonconformist uniform: tatoos, piercings, and shirts that say "I'm a degenerate with no morals." The contrarian uniform is not as subtle: it just goes on and on about how contrarian it is.

That's why I'm not a contrarian. It's not contrarian anymore.

A man with a radical view will say something like "I start with the assumption that current prices are always wrong." -- George Soros.

Why are gasoline prices high? Because we don't make our own gas any more. Thank you liberals for not letting Big Oil build a refinery since the '70's. See Intertanko.

One last thing. Media bias. I saw this story about Fallujah today. My favorite part:

"an estimated 50,000 people out of a population of about
300,000 still have not returned 18 months after Fallujah
was destroyed."

It's official: Fallujah is recovering better than New Orleans, and the liberal AP is complaining.