Rock. Hard Place. Go.

If you're like me, doing nothing can be very satisfying when you're convinced that it's the correct course of action. Doing nothing when there are obvious problems around you is difficult to pull off. The Fed starts a 2-day meeting today. I wonder what the hell they are going to talk about, let alone do.

Rates are probably as low as the are going to get via Fed actions, but the economy is very troubled. UPS and oil at $138 are today's latest examples.

Commodity inflation is ripping and it may be that housing is bottoming. Even if it isn't bottoming, it doesn't seem to be our marquee problem any more. Even so, I can't imagine a rate hike in here.

That is what makes this environment so difficult. Time may be the most important factor in resolving what is going on. In the words of Winston Churchill, "If you are going through hell, keep going."

Water Torture

UPS joined lots of other economically-sensitive companies today saying the current quarter and year estimates just ain't happening.

High fuel costs, customer nausea over price increases and who-the-hell-knows what else are leading to an earnings malaise that is not threatening to get out of the way any time soon.

I was at a car dealership today and asked my sales guy how business was going. He said something like, "Well, I've been doing this for 20 years and ............."

I'm not a fan of this action.