Markets Sell Off

I have not said much about the recent market sell off. I have been too busy watching, and trading.

My very small real portfolio has nearly doubled in the last two weeks.

So much for QE2...

We may have some big bounces on the way down, but we will test the March 2009 lows, perhaps this fall.

Hopefully, the drastic budget cuts needed to keep our new, not so coveted AA+ rating will not produce the same thing as cuts are producing in London:

Less than 3% of Americans who file tax returns make $250,000 per year or more. 87.6% of tax filing households make $100,000 or less, with the highest percentage making $50,000 or less.

If our political and economic situation worsens, which it is poised to do, the rich will be in for a rocky ride.

Democrats will attack them as the cause of the double dip. They will call them greedy for not wanting to pay their "fair share". If the Republicans get to radical with their "no new revenues" pledge, they can kiss the White House goodbye.

Barack Obama is no amateur politician, he will play the class card if it is needed. The American public is becoming poorer, and angrier by the day.

Cash is king. Don't trust high yielding bonds of any kind now, they may be the last of the bubbles.