Opinion: Justifiable Pessimism Over Obama Hype

As for the current push for "shovel ready" projects, here is a query: Are you going to pick up a shovel? Do you know anyone who will be picking up a shovel? The beneficiaries to all this money will be a small group of folks with big lobbying budgets who are located in swing states. (And those that are publicly traded will receive our continual attention so that we can indirectly make money off this impending fiasco. Specifically, I'm looking at the companies who transport the stuff to locations where other companies build the stuff that we are now spending money that we don't have. Railroads, basic materials, etc. We can participate along with these folks as they capitalize on the government's largesse).

SEPARATING ECONOMIC OUTLOOK FROM MARKET DIRECTION

But as I often say here, we've got to separate the market from policy. We will indeed make money off the economic stimulus package...but I seriously caution anybody who is buying into this hype and forming long-term investing decisions based on the promise that "this time will be different". It won't. As I write this, I hear the words "change, reform, accountability, new sense of responsibility" repeatedly bantered about in the latest "Presser". But there is no evidence that these concepts have ever been adhered to by the person making those comments. Rather, there is simply this tacit acceptance of the media that "this time will be different."

Right.

Just step back and think for a minute. If it were easy to fix the types of problems that face us, then why would they have even arisen in the first place? None of this stuff has ever worked before. It's fine to ruminate and muse about a new future where everyone gets along and all are prosperous, happy and satisfied.

Sigh. My heart is all aflutter. A new beginning! The new dawning of the Age of Aquarius!