Questions, I get questions......

Mr. Richard Faylor from Ft. Lee NJ asks:

"Why is your blog titled, "You've got to be Kidding me?"

Good question Dick. I choose this title because after almost 20 years working on the street, I am always asking, usually out loud, "You've got to be kidding me!!" at some of the things that I can't believe I am hearing or seeing. For example, just last week, the news on the economy was horrible, the ECB had injected $1/2 trillion into the system, with the FED promising to meet any and all liquidity needs, and gold was down $15. So of course I was screaming "You've got to be kidding me!!! Except I added a compound word that is usually abbreviated "mf" between the words "be and kidding" (You've got to be mf..kidding me..for those of you a little slow on the draw.)

Another example would be, a small stock I own just got a takeover and it's down. "You've got to be kidding me.

Hank Paulson is trying to sell some BS bailout plan to the Street and the markets are running 200 points. "You've got to.....you get the idea.

Next Question:

Ben B. writes: I have tried everything possible to keep this economy afloat, nothing seems to be working. I have my cronies, I mean various "managers" go out talk about how great things are, yet no one believes us. I am also trying to suppress gold, or as I like to say, the yellow bitch, as if that thing gets out of hand, then everything becomes higgedly-piggedly. (My good friend Paulie V. told me to keep it in check as that was the one mistake he made when he had my job.)
Any advice?

Benny, Benny, Benny, the more things are suppressed or controlled the worse they become. Let the economy be, do your job, let the rest get ironed out in the wash. Yes there will be a lot of pain, some bankruptcies of some big boys, but in the end, the economy will be much stronger for it. Doing what you are doing, just prolongs the pain, and will make everything much, much worse in the long run. Also, stop having your boys talk up inflation. Anyone who has a clue knows you will be cutting interest rates to keep the economy running and the balls in the air. It just makes the Fed look foolish when they do this.

Alan G writes: I had nothing to do with this current problem did I?

Yes Alan, you were the main cause. Instead of the letting the stock bubble die in 2001, you propped up the markets with your inane interest rate cuts and caused the housing bubble. Just as history views Paul Volcker as a hero, history will judge you as a pariah.

Tony S. writes: Hey Da boyz and I are having a realz hard time keepin' dis gold thing down. Da more we try and try, the more it goes against us. We can control the NY market but, I mean, we now have da the Asians and Middle Easterners we gotta fight. I meanz we are tough but not that tough. Any advice? We are gettin' killed here.

Uh...no.