Retail Sales Fall?

It is far more important to stimulate the economy than it is to bailout the banks,
because even Reagan’s economic policies were named with the Regular Guy in mind
(trickle down economics at least implied that the bottom would drink something).
Giving people another $10 billion in stimulus checks is not the answer. The answer is
to provide time sensitive enhancements of the failed capital markets until a new
business methodology is adapted to replace the old commercial paper, conduit
based methods forged by investment banks since Fink drove First Boston to the top
of the heap in banking in the 80s.

Large businesses have adapted time based market sales of Commercial Paper, and
other conduit investment products, to allow their businesses to operate. As major
firms are unable to tap the CP market currently, they cannot do business (imagine you
swipe your American Express card and AMEX declines, because they don’t have
money to pay the merchant). These methods are 20 years old and have operated
without interruption during those years. The United States treasury, Congress, Senate
and Executive office need to address enhancements and guarantees in these areas
until the market normalizes.

We need to lengthen the time horizon, stop reading 1,000 point headlines with doom
news, and realize that from December 1941-June 1945, business stopped in the
United States for a World War, and we’re still here. We had 20% unemployment
during the great depression and we’re still here. The outlook’s not rosy, but not worth
jumping from a building over. If you buy the best companies in the market at these
prices, you’ll look great in eighteen months. Don’t despair, America will find a way.

Be steady, careful and watchful. Good luck!