Things could be alot worse! Iceland raised it's interest rates to 15% and their banking syatem is in shambles. This financial crisis is clearly not proprietary to the US.

It amazes me as the US takes action to avert a recession (depression ) the ECB headed up by Trichet continues to hold the line on interest rates because he is worried by inflation! I cannot fathom how the EU will be able to compete in the world economy if the Euro continues to rise in price. Watch for something to give in this regard. It cannot continue.

In Canada we cannot get away from this potracted political circus taking place in the south of the border. In Canada and the UK this process is limited to 6 weeks and we vote. In the US the process of selecting a leader and voting seems to take about two years! Listening to the campaigns I have yet to hear any candidate supply any credible policy on energy. Cheap and abundant energy has been the foundation of US growth. All we hear is that they will be taxing the big oil companies more.  This will definitely help supply! Also we the democrat hopefuls are full of new taxing ideas. I hope they realize that the US is tottering on the brink of recession and any such action could push the country into depression. The powers to be did the same thing in the 30s and the rest is history. With the financial issues facing the US and the world the next US pesident could end up being the most hated in history. Bush may be pushed into number 2 position HA!

This morning on CNBC they continue to drag in guests who talk up the "strong dollar" policy. Where on earth do they get these people? This policy has really worked well so far.

The markets went into the doldrums yesterday and clearly the markets are waiting for some good news that says that we are getting out of the sub prime mess. Markets are forward looking and I still expect we will get through this short term crisis (assisted of course by money printing). One financial commentator who I read is Jim Puplava on financialsense.com. He has been a good fundamental market caller for many years. He said (in november 07) this years markets could be compared to the "Oreo cookie". By this he meant that the first part of the year would be hard down followed by a good middle and hard down again by the end of the year. I hope this middle arrives soon.

The Mcfaulds stocks continued to lose value due to lack of news. FNC and PRB had a haircut yesterday(maybe a trim). These periods of lack of news are really trying for the investor. We tend to start mistrusting our faith as others sell. We all remember when NOT went to 2.65 after hitting 7 dollars.  Anyone with stops must have been taken out. This play seems to be one where one must be in to win.

Good luck to all of you. Thanks