Twilight Zone

There are a number of things going on in the financial markets that are unprecedented or were unfathomable six months ago.

• Oil has gone from $147 to $36


• The 10-year treasury is yielding 2.08% and might go below 2
• The Fed funds rate is about zero
• Equities have done nothing but go down for the last year
• The U.S. Government is intervening everywhere
• Housing prices cannot find a bottom
• AIG, Fannie, Freddie, Bear Stearns, Lehman, WaMu, Wachovia, Merrill Lynch are all gone


• Two of the big three auto makers may be bankrupt within the week


• The 90 year old Ponzi scheme is alive and well. Just like in the film classic "The Sting", the oldies are the goodies.

It's Friday and a storm is coming in the Northeast. Enjoy the weekend.