07-26-07 - 1

So the market has started the correction I've been predicting for a long time, which I've written about here, but in a nutshell is based on the fact that the US economy is currently built on a foundation of hot air blown by the balloon of false housing equity. It took a huge hit in the last few days but I believe that this is only a small correction compared to the plummet that we might see. Unfortunately I still have a ton of money in stock because I don't know what else to do with it.

It's funny whenever the market starts to correct these days, the talking heads are shipped out from the financial think tanks to try to prop them up. They talk a lot of nonsense about how it's not that bad, it's just a small correction, don't panic, etc. It's really just one step away from what they were doing in the dot-com days talking up stocks that they were IPO'ing.

In more happy news Trader Joes has this "Glass Mountain Syrah" for $3.99 that's quite superb, spicy, chewy, with some depth.

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old rants