Weird Wednesday

One member of the Fed thinks that rather than evicting homeowners in foreclosure, banks should rent the home to the former owners to keep them occupied thus stabilizing neighborhoods. On one hand this practice sounds more humane and protects the bank's new property BUT could the new renters afford to rent and would they take care of a bank's property? Most banks do not want to be landlords and I doubt many homeowners would want to live in what many would see as a visible sign of failure.

The DOW rose today based upon better than expected manufacturing data and in spite of fewer jobs being created in August. I can't share the sentiment and wonder if the HFTbots aren't running up the market to lure investors in for another haircut. We'll see.

Auto sales were the lowest since 1983 in August AND sales fell from both July this year and August last year. No surprise in this data since most people are afraid. No responsible person is going to buy a car in this uncertain economic environment.

Al Gore incited a nutcase to blow up the Discovery channel after watching Inconvenient Truth. And an insane negress tossed acid in a woman's face in Vancouver. One never knows what they might find on the streets of america. What's next? Cannabalism?