Lock and Load

In the past few days the indices have completed multiple bearish patterns and broken through significant levels of support. The ISM and jobs figures were poor. The commercials are now net short. These are not surprising new developments, but rather part of a long-awaited convergence.

… If you’re long equities, and unhedged, you’re likely to get an ocular penetration experience not seen since 2000.

– Karl Denninger, 2008-01-04

The party is about to begin, and oh yes, did I mention it’s going to be spectacular?

Finding Faith and Common Ground….

I heard this carol on the radio the other morning, and just had to track it down. It’s going to be my favorite Yule song for quite a while, I think.

“But we love trees, we love the snow,
the friends we have, the world we share
And you find magic from your God,
and we find magic everywhere”
. . .
So the Christians and the Pagans
sat together at the table
Finding faith and common ground
the best that they were able

– Dar Williams, “The Christians and the Pagans”

Sign the Petition

It’s a petition. Like attending a protest, every so often it’s appropriate to make a statement. I say that even though I’ve told the lightbulb[0] joke and only attended one protest “in earnest”. We stand on the precipice of what is likely the greatest financial crisis in generations. The multi-billion dollar losses you may have heard about on the news? That’s the sound of cracks forming. The actual collapse will be truly spectacular.

You can find it at http://financialpetition.org. It calls on Congress to restore responsible lending practices, ban off-balance-sheet vehicles, restore the recently-gutted remnants of Depression-era banking regulation, and most importantly, to allow failure. Realize that at this point, scary as it may be, you are the adult in the room. So step up.

[0] “How many protesters does it take to change a lightbulb?”
“None, protesters can’t change anything.”

Orange Blossoms

My dwarf citrus trees have finally blossomed! Both the lemon and lime present a decent showing, and the orange has truly outdone itself. I can pick up the fragrance almost as soon as I step outside, but it is very delicate. There is also a mammoth geranium that is watering itself from the hose bib; it’s almost the size of a small tree. As soon as I get more planters, I think I will start taking cuttings.

Orange blossoms