September 2012

What is going on with the stock market and economy?? I feel that Alfred E. Neuman’s picture and “What me Worry” saying should be posted on all newly printed USA currency. USA told Japan in the 90’s to fix its inter-company shareholdings within the banking industry so bankrupt companies can get cleaned out of the system. America is now guilty with the same sin and is taking the route of Japan by supporting the mistakes of the rich. The poor and middle class are suffering for years now and that will continue. However, the poor and middle class are resilient, right, Mr Bernanke and Mr Obama?? Hope and time are running out.

PE ratio of the S&P 500 is about the same when the housing crisis started in 2007 and what has happened since then…home prices are still down, millions are unemployed, funny money is being printed like crazy. How could all the lost property value, lost home equity, lost spending and lost jobs still translate into the same PE ratio in the index? Well that is easy, American’s lost their jobs to overseas replacements at 1/4th the cost and that lower cost still gives the same or more output for S&P companies and therefore earnings are rising. But despite the higher earnings the US domestic scenario is still weak and getting worse. The MASS PRINTED MONEY of a scale not know before to mankind and there was some help from cost savings from using overseas labor. Sure there are some economic improvements here and there but are they substantial? NOT even close.

If you are long the S&P 500 market get out. If you are out go short. I could be terribly wrong and the Gutenberg Money Press has more toughness than I can withstand to bear but the 1550 index level in the S&P 500 is the high when the crisis started and we are 1460.

Please be cautious.

Steven Boccone

Some quotes to leave you all with….Pride may be bad but there are blessings inside it for the future generations.

Leviticus 26:19
And I will break the pride of your power, and I will make your heavens like iron and your earth like bronze.

Job 41:34
He sees everything that is high; he is king over all the sons of pride.”

Psalm 31:18
Let the lying lips be mute, which speak insolently against the righteous in pride and contempt.

Proverbs 8:13
The fear of the Lord is hatred of evil. Pride and arrogance and the way of evil and perverted speech I hate.

Proverbs 11:2
When pride comes, then comes disgrace but with the humble is wisdom.

Proverbs 16:18
Pride goes before destruction, and a haughty spirit before a fall.

Proverbs 29:23
One’s pride will bring him low, but he who is lowly in spirit will obtain honor.

Isaiah 13:11
I will punish the world for its evil, and the wicked for their iniquity; I will put an end to the pomp of the arrogant, and lay low the pompous pride of the ruthless.

Corinthians 7:4
I am acting with great boldness toward you; I have great pride in you; I am filled with comfort. In all our affliction, I am overflowing with joy

1 John 2:16
For all that is in the world— the desires of the flesh and the desires of the eyes and pride in possessions—is not from the Father but is from the world.

Famous Pride Quotes

A proud man is always looking down on things and people; and, of course, as long as you’re looking down, you can’t see something that’s above you. – C.S. Lewis

Of all the marvelous works of God, perhaps the one angels view with the most supreme astonishment, is a proud man. -Charles Caleb Colton

Most of the trouble in the world is caused by people wanting to be important.- T.S. Eliot

In general, pride is at the bottom of all great mistakes.- John Ruskin

I would not talk so much about myself if there were anybody else whom I knew as well.- Henry David Thoreau

Pride costs more than hunger, thirst and cold. -Thomas Jefferson

Idleness and pride tax with a heavier hand than kings and governments.- Benjamin Franklin

Pride the first peer and president of hell. -Daniel Defoe

There is this paradox in pride — it makes some men ridiculous, but prevents others from becoming so. – Charles Caleb Colton

If I had only one sermon to preach it would be a sermon against pride.-Gilbert Keith Chesterton

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