Al, I have been reading and looking into the credit instruments. While I don't think it is quite time just yet, the risk ratio right now is extremely high and could have an extremely high payoff ratio. Seasoned veterans know that is how the market works. However, when Buffet continued walking after having the opportunity at one of the recent "deals" of the street. . .I decided to keep following his direction.
We still have to contend with "the lag time" of this entire event. Had we had people with 1/2 a brain in high positions of the financial world, they would have saw this coming over three years ago. What took so long to create is not going to be cured overnight. It's kind of like when a person gains 60 pounds and wants to lose it in two weeks. It isn't going to happen ~ safely. What needs to happen now is that whatever structure is put into place to repair the damage from the past. . .will guide the financial systems slowly. . .and accurately. . .into the desired end result. Right now, the govt is in "crisis" mode and the financial system is a flat spin to the ocean. The "lag time" is probably 12 to 18 months for living through poor decisions of the past. If the govt can get someone into the economic sector of consulting for the White House before the 700 billion dollars expire (I still can't believe that one) and turn the momentum. . .our significant flat spin might not splash down. But everyone should be very, very ready for a tough ride. Make sure you can reach the ejection handle.
Peace,
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