Diary

Financial Tsunami, revisited

April- June GDP grew 3.3% according to the U.S. Commerce Department’s Bureau of Economic Analysis in the August 28th report. The credit liquidity issues are starting to show signs of loosening evidenced by the upward tic in short term commercial parer issuance. We’re not out of the woods yet but a big chunk of the needed (massive) asset rationalizations are now in the rear view mirror; onward and upward ahead. McCain needs to optimize this to his advantage. We are coming out of the cave of financial debauchery; what we need now is leadership, champions of transparency, and a vision of reformed greatness based on real job growth not financial engineering by wall street and construction (the only industry we can’t outsource). McCain and Palin have a task; now they need execute the communication then the play.