Well today’s the day, about 26 chunks from an old satellite totaling 300+ pounds  will smash into our planet sometime this afternoon. NASA can’t seem to tell us where until about 2 hours before it hits, and then they can only estimate, so keep your head up and your eyes open!

Yesterday Special Persons Day was fun from what I’m told. I guess the little guy was at the computer lab so there was not much interaction with him, but in the oldest ones class there was a lot of participation by Aunt B and Uncle T and the rest of the “special people”. Thanks much to both of them for going.

Today the dogs go to the groomer which is far overdue. We are also splurging with having the house cleaned by a professional! This includes base boards, light fixtures, floors washed, etc. You know, all the stuff you can never get to on a regular basis. I have a bunch of calls and the misses is getting her hair done this afternoon.

Yesterday was filled with the usual playing by the boys and right around dinner time our neighbor (and former lifeguard at the pool) Alex, stopped by to tighten the boys “trucks” which are the wheels on their skate boards. Alex is quite the cool guy to our boys. He’s 19 and now in college and a really good kid as he always spent time with the boys and also taught swim lessons. He rides his skate board past our home almost daily. The misses and I laugh as he always calls us “sir” and addresses the misses as “Misses F”. When he was leaving last night the little one yelled out the door, “hey Alex, remember I much prefer you without glasses and a beard”! This was hilarious. He was wearing his glasses which he normally doesn’t and had a day or two’s growth of whiskers. Anyhow the kids look up to him and thankfully he’s a well balanced polite role model for the boys.

Now to politics and the economy, how’d ya like that 500 point drop yesterday? We ended the day down 391 but the past two days have been the worst 3rd session in the history of the market. We’ll see how today turns out. It might go up but if it does, remember it’s all being propped up by the government mortgaging our children’s and nations future. Check this out, those of you with ANY money in the stock market, 401K or mutual fund, had better read this carefully and ask questions if you don’t understand. Say what you will but time is running out. The government is counting on you to leave your money where it is and to “trust them”. Now I understand how hard it is to get to the point where you have no faith or trust in a government that you’ve lived with all your life, but there are too many people who manage huge sums of money telling you everyday to “get out” of the market and you’d better listen. I fear for people like my Mom who I think won’t do anything until it’s too late. Part of it is she doesn’t know what to do and I’m sure thinks I’m overreacting. So do me a favor and find the smartest person you know that works in the financial sector (not someone where you have money like your stock broker or mutual fund manager as they have an interest in you leaving your money where it is) that you really trust and ask them what to do. I’ll bet they too will tell you to get most of your money out of the market now. You can always put it back in, what do you have to lose? Think about it, if I and the brightest financial minds in the World (Nobel prize winning economists, Warren Buffet, George Soros, and moreetc.) are wrong, you might miss out on 1 or 2% in gains. If I and the experts are right, you could lose 50-90% of your savings! Seems like a no brainer to me. Anyhow here’s a exert from a Wall Street expert, at least read it,

“JP Morgan is trading this morning at prices seen in 2008 after Lehman’s failure.  So is Bank of America, Goldman Sachs, Morgan Stanley, Citibank and others.  And this morning - now FedEx is as well!

A couple of weeks ago I opined that were you caught “long” equities you’d likely get another opportunity to unload them at reasonable prices before all hell broke loose.  It appears that yesterday was that opportunity in the morning, as we’re now trading seventy S&P points, or about 6.6%, below where we were yesterday morning.  You’ve once again had your 401k and IRA whacked by the incessant lies and scams promulgated by your government and the “financial wizards” who seduced you back into the markets with half-truths and siren songs.

The market opened this morning down 300+ DOW points and the VIX slammed through the 40 level.  There will clearly be bounces along the line but as things stand right now the underlying financial conditions have not changed one iota from where they were in 2007.  Instead of allowing those who were overlevered to go bust and have capitalism do what it does best – creative destruction of the foolish – we instead took private effectively-defaulted risk and transferred it to the public balance sheet.

But that’s a scam – it simply moves the deck chairs on the economic Titanic, because governments can only raise funds through two means: They can borrow money (increasing leverage) or they can tax it (decreasing consumption or investment by private parties.)  The obvious “borrow it” choice was made here in the US and elsewhere, but just as with private borrowing government borrowing has limits and we’re now running into them, and deficit spending creates false demand signals in the economy that must eventually end.

Recognition that you’ve been scammed can be a truly ugly thing.  It is usually violent at an emotional and financial level, and more often than one would like it has a habit of being violent in the physical sense as well.

Well, America (and the world), you’ve been scammed by the financial institutions and governments for the last 30 years.  2008 was the first spasm of recognition but was short-circuited by…. you guessed it…. even more scams.  Rather than demand truth and an end to the games the American consumer lapped up the frauds and schemes of the politicians on both sides of the aisle who conspired with the financiers to rip you off once again.”

Don’t believe me, here’s another noted economist warning you!! You’d better read this, PLEASE!

The Fed Disappointed… The Great Collapse Is Here