Better Safe than Sorry

I chickened out. I'm not going to go long here. Why? Because I'm not sure any more that credit is unfreezing. LIBOR is worthless. Why? Because it's just banks lending to more guaranteed banks. Now that most of the world's banks have government guarantees, who will deal with a bank that's not guaranteed? Without market pricing, there is no transparency. I can't see what's going on. So, I need to think about what I want to do some more. Right now, I'd rather be safe than sorry.