Wednesday, November 5, 2008

The sun will come out tomorrow

I didn't get all teary eyed like Jesse jackson or Oprah Winfrey; but after watching Barack Obama's touching and inspiring victory speech late last night I experienced a road to Damascus moment and went to bed sure that the sun would shine bright today.

Just like The Little Engine That Could, I fell asleep chanting, "Yes we can," "Yes, we can," "Yes we can."

Imagine my surprise when I woke up to the gray clouds of a typical fall day rather than to the brilliant sun of a perfect future. And then, later today I got another surprise when the stock market dropped. Apparently, those perfidious foreigners who were all excited about Obama last week didn't rush in and buy up U.S. stocks in celebration of his elevation.

Very disappointing; but I plan to chant my "Yes we can"s again tonight. The One was very clear about that in his speech. We all have to do our part to create heaven on earth.

I'm very confident that the sun will do its part and come out tomorrow.

And - Speaking of Heaven on earth:

I keep reading more and more about the simple fact that there has been no (No!) global warming since 1998. So this earth, which was supposed to be irreversibly warming up, has not been warming up as Nobel Prize wiener Al Gore and all his acolytes told us it would. "The science is settled," they told us; but the earth has actually been cooling for the past couple of years.

Was it all a lie? Or was it just an, ooops!, mistake. If so, its been a very expensive mistake for the taxpayers and consumers in the European countries that have disrupted their energy markets and paid tens of billions to Russia and other sources of "carbon credits" which is a technical term for protection money.

This subject came up on my radar screen again the other day when an audio book I'm listening to mentioned that Vikings used to live in Greenland when it was a lot warmer there back in the period from about 900 AD to about 1500 AD. Who was generating the CO2 that warmed Greenland up that much back a thousand years ago? Who was generating the CO2 that warmed up Nova Scotia enough so that Leif Erickson found grapewines growing there, so many grapevines that he called it Vinland? Who was generating the CO2 that made England and Germany warm enough to have big wine producing regions in that era?

I think Al Gore has been trying to pull off the biggest investment and political corruption scam in the history of the world. He's made tens of millions off of it, but now he has gotten unlucky. If he had been lucky enough to have a few more years of warming he could have completed the scam and made tens of billions trading in carbon credits. But now it's falling apart. Al is desperately trying to change the terms of the debate by calling it "climate change" so he can claim any kind of weather, or any level of world temperature proves his case; but it isn't going to work.

Here's an interestingly written article that gets at some of this.


Anonymous said...

It's just my opinion, but I really believe that the whole issue of global warming is simply a socialist's way of controlling capitalism. Despite proof to the contrary, they will continue to embrace the global warming theory until such time as they can figure out a way to provide a link (however bogus) between global cooling and capitalism. :)

I wish I could say that after the election I also experienced a road to Damascus moment, but I did not.

As for the markets, a guest on a cable news program suggested that the DOW might go to 5,000.

Now for a little gallows humor as told to me by a friend:

Obama plans to change the required age for retirement to the day after you die. ;)


Sully said...

True story - a couple of months ago I ran into a young finance grad at a professional society meeting. He held forth to our little group on the idea that there was no way the market could go much lower (the S&P was then about 1200). I mentioned that the S&P was reasonably priced by some measures at about 20 times earnings given the interest rate environment, but that in the past p/e's had dropped to eleven and even eight. He scoffed. I ended it by saying that I certainly hoped he was right.

Lest you think I'm a genius I certainly didn't actually think the market was going to drop this far, and I've remained almost fully invested in stocks, so it was all an intellectual exercise.

But I bet that kid thinks I'm pretty smart right about now.

As far as Obama goes, he too will pass.