The tape continued it's volatile, low volume action today which I would have to guess is going to be the norm for the rest of the year. There are some good things I can see though. First is most hedge funds that have survived this far have made it past last call for any redemptions for the year. I am not saying all are going to be around come JAN1 but they probably won't have to be selling much more. The second and more telling thing I saw was the Philly Fed Board of Forecasters have said we entered a recession in April and it will be a fourteen month recession- the longest since the one in the late '70s-early '80s. If they are right then that means we should be exiting said recession by the end of Q2 '09. Assuming this is a normal type recession that means the tape will start discounting that come January. If we are not in what most who are in the markets now think of as normal then I have no idea when this ends.
I read President Bush said he will not be going back to Congress to ask for the roughly $350 billion still not used in the bailout. I would have to say that is a prudent political move. He is out of there so why ask for something you can't use to your advantage and if it blows up your successor will bear the brunt of it.
There has been a good amount of bitching that President-Elect Obama is surrounding himself with and choosing a lot of old hands for top posts in his incoming Administration. Well that was quick. As I said, I did not vote for the guy but shit, at least give him a chance. He could actually live up to the idea of change for the better. I also noticed he has met with his former Presidential opponent Senator McCain. The real mindbender would be if he tapped him for his Administration. The left would howl and scream bloody murder but it would actually show he really is post-partisan and maybe does want to do things differently. I also see HRC is a top contender for Secretary of State. The cynic in me says he is doing that not to appease her supporters but to prevent her from making another run at the nomination in 4 years. If I were an idealist I'd have say it is similar to trying to be a different type of politician and President.
JP's grandfather passed away last week. He was working out of town and his current employers were kind enough to let him out of the last week of his obligation/contract. I exchanged emails with him because we had not heard form him in a while when he told me what had happened. He knew his grandfather was not doing well and said he had been prepared for it but I know that even when you see it coming, losing someone so important and a large part of your life still hits really hard.
I caught a later bus this morning than usual and there were several cuties on there. I took the seat in the back and just checked them all out while reading emails and listening to Katy Perry. I have her on my iPod because my oldest asked for it to be put on his- well really just her two hit "I Kissed A Girl" and "Hot And Cold." IT is complete bubblegum but fun for the morning bus ride.
The husband decided we had to do some painting in the boys room. I was hoping it could wait until after this weekend but nooooo. So we hit the gym in our building and then put the first coat up. We'll finish it tomorrow evening and then do some touch up painting in the apartment before the big party this weekend.
I have Friday off because I have two parent/teacher conferences down in central Jersey. It will make for an earlier than normal Friday evening when we have the boys as they have no school that day so once I am done with the conferences I can bring them home.
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