Quick Update

LA is a blast even if I spend most of my waking hours either at work or changing diapers.

I would put even odds that GDP is revised to negative territory when it is all said and done.  The Fed waited too long and over compensated as a result.  When I was talking up rate cuts, I was thinking last fall and dropping it to 4% or maybe 3.5%.  Not much room left when you drop it to 2%.  The tax rebate underway now is a joke.  You could take that $150 billion use it a lot more constructively than providing a generic handout.  I have been in favor of government intervention despite knowing the general incompetence of governments but this has blown me away.  Based on Kanye West's thesis I would say George Bush doesnt hate black people, he hates everyone.  But hey, Bush and his cronies wont be around to pick up the pieces.