Monday, January 26, 2009

Christ, It's Getting Bad Out There and The SSPX

McDonald's sales are down 23%, companies announced 72K layoffs today, and Catholic school girls are running up the score on mentally challenged opponents 100-0 (we'll get back to this in a bit). Gold is at a 4-month high and nobody can get a loan anywhere near the rates that CNBC or Lawrence Yun would have you believe, and yet the market seems content to stay afloat above 8K.

As I write this after 4 p.m., my blog, like the day's headlines, are outdated by the time I finish a paragraph. Texas Instruments just announced a 12% workforce cut and AmEx earnings were down 80%. Combine this with the layoffs announced today by Caterpillar, Home Depot, and Phillips, and I have no idea why there is any demand for stocks right now.

Analyst favorites like US Bancorp and Corning have been blasted. Blue Chips have earned a lifetime of poor earnings. The TARP has failed miserably and applications that have flooded in to refinance mortgages are quickly becoming trashketballs because of low credit scores and zero ability to put down a payment of 10% or more. In fairness, the Mickey Dees results were pretty good, but in my mind, further proof of just how terrible the economy is when only they and WalMart are able to sell anything at the expense of everyone else.

Perhaps lost in this financial wreckage was the Pope's "rehabilitation" this week of of 4 excommunicated bishops, all members of the Society of Saint Pius X, apparently a far-right wing sect that promotes pedophilia and anti-Semitism. One of those rehabbed bishops is Richard Williamson, who had this to say to a Swedish TV station. "I believe there were no gas chambers and that only 300K Jews perished in Nazi concentration camps....I believe that the historical evidence is hugely against 6 million Jews having been deliberately gassed in gas chambers as a deliberate policy of Adolf Hitler."

On a lighter note, Covenant Christian school rolled over Christian Dallas Academy 100-0 in girls basketball by shooting 3s and trapping until the end. Dallas Academy, with just 8 players and a school that "boasts of its small class sizes and specializes in teaching students struggling with "learning differences," such as short attention spans or dyslexia," is winless in 4 years.



Tiger Coach said...

Ax... Dismal information on all front my friend... The only other buyers that are big enough to move the markets like they have would be a central bank... somebody's central bank... No way should the market be up on a day like this...

I cannot speak for the Pope or any of the radical groups out there, but the RCC has a pile of laundry that could be uglier than the Federal Reserve.

That being said, I am certain most Catholics do not "buy in to a Holocaust hoax" and more importantly, the Jewish community in general and Israel in particular have found no greater friend than Evangelical Christians in support.

Remember this market has to evolve through three stages...
Fear, Hope, Despair... right now, there are still some people who are in the hope stage... unemployment numbers this week should take care of that...


Anonymous said...

Ax.. PS Covenant Christian school's coach was fired after that game... Just goes to show that adults are definitely worse than the kids!!!

Anonymous said...


OK now I am getting scared. First your site was about sports and betting (bigbigbet remember the good old days) then it moved to more of an investment/econ site, now please do not tell me you are going to move into religion. Please lets keep off of religion and get serious regarding what is going on.

We have the solution, we discussed it now lets post it!! Hopefully it will gain traction and we will get bigbigbet on the map

AX said...

Real Anon,

I would think you of all people would feel enraged by the action of the Church on this one, another blow to Jews and a point for anti-Semitism. But I'll address your question now.