Diamonds and Dogs
According to a study done by the NADA, National Auto Dealer Association, only 5.7% of the money owed to the dealers from "Cash for Clunkers" legislation has been paid. By law, the money was to be paid in ten days and now, according to the government, the DOT says the money will be paid by the end of the month, or a full 30 days after the government sponsored program ended. On another note, 3900 convicted and imprisoned inmates were sent $250 stimulus checks by our Federal government just last week. How can we afford to have more and more government involvement in the capitalist system? They just aren't very good at it. We are traversing a very slippery slope as the markets are breathing again after a "near death experience" in late 2008, and unfortunately, it appears we have a new partner to lead us along the path.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.