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America Wants to Throw The Bums Out

Posted by Larry Doyle on September 15, 2010 7:00 AM |

With the most important elections in our lifetime  — since the last election at least — less than 8 weeks away, the pulse of the country is clearly beating and sending a strong message. What is the tone of that message? Americans are increasingly sickened by the standard ‘business as usual’ politics and are getting ready to ‘throw the bums out.’

In light of the disasters that have played out on our political and economic landscapes, can you blame America at this juncture for harboring these feelings? If you have any appreciation for ‘sense on cents,’ America’s voice is resonating with a message that newcomers certainly can not be any worse than the stale crowd and establishment politics promoted by party machines.

In typical fashion, we will witness both sides of our political aisle look to frame the debate and incoming candidates as ‘unable to win,’ ‘ideologues,’ ‘extremists,’ if not worse. As the established incumbents and political machines of both parties fight to maintain power, ask yourself the question: “What have they done to pursue greater transparency and disclosures in a never ending pursuit for real truth and integrity both in Washington and on Wall Street?” The s*&% sandwich that America has been served by so many incumbents who do not have the balls or the backbone to stand and deliver these virtues is being sent right back to the kitchen. The incumbent ‘waiters’ who believe they can tell America what is best for them ‘on the menu’ are waking up to see that America is no longer buying this line of bulls*&%.

While America is sending this message to Washington and many state capitols, it is sending the very same message to those occupying the corner offices on Wall Street. Investors now understand that Wall Street has constructed exchanges that do not promote fair, level, and open playing fields. Can those fields be leveled and opened? Unless and until investors regain real confidence, I expect they will continue to stay away and allocate capital elsewhere.

I do not believe these shifts in our political and financial markets are temporary or mere ripples across a large ocean. The undertow is extremely strong. The pounding of the waves is relentless. The bums are going home. America wants to regain the character and the aforementioned virtues that have been subjugated by those focused on personal profit and political power. I welcome it.

How about you? What are you feeling at this juncture? Here’s your voice.

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. As President of Greenwich Investment Management, an SEC regulated privately held registered investment adviser, I am merely a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

  • Tea Party

    The machines have the $$$ but the Tea Party has the heart and soul!!

  • fred

    Probably the best (contrary) indicator of confidence in the Gov’t to manage the economy is the price of GOLD.

    Interestingly, the price of GOLD was up $26 and made new highs yesterday.

    Given the price activity of GOLD, recently and yesterday, I’m not suprised that alot of incumbants were defeated in the primaries.

    • fred

      LD,

      In your experience…

      Are GOLD prices a measure of uncertainty, confidence, or both?

      • LD

        Fred,

        I view gold ultimately as an indication of lack of confidence in our government to manage our fiscal house. The ultimate devaluation of our greenback from this lack of confidence is currently reflected in the price of gold. I do not know that we will have the spike in inflation which many believe is driving gold.

        The road is very long. We could have everybody right and wrong all at different points in time. The question of uncertainty is more of a short term impact on gold but the long term is ultimately a quesiton of confidence. At least IMO.

        • fred

          LD,

          Good stuff, uncertainty ST, confidence LT.

          I have always been skepical of the consensus belief that GOLD is a function of inflation alone.

          I agree with you, long term it is a function of confidence which can manifests itself as either a fear of inflation, fear of deflation, or, given varying time horizon, even both.

      • fred

        GOLD is a most interesting market.

        As do most commodities, it has a fundamental value on the low side, (combination of production costs, commercial and residential demand, and scarcity), but unlike other markets it does not trade based on fundamentals on the high side.

        It has an inverse risk profile to shorting stocks, limited downside, unlimited upside.

  • Dan

    We want to end HATE FEAR and SCARE tactics that drive thr Rebublican party. They Hate gay americans more then they respect our Military and refuse to give them the pay raise they need. Because they fear of DADT, they hold onto fear.






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