10 Year DJIA Gain? A Cool 1.22% Not Bad..

Unless you were hoping to retire at some point....

Link to 10 year performance of the Dow Jones

Prediction: The DJIA Falls to at least 7,500 in the next 30 days

It's got at least another 12% to go before we can talk about a bottom. That was the Jan 1998 DJIA, before the tech bubble...and long before the housing bubble. The scary part is, it might sink lower than that once inflation sinks in and rising mortgage rates cause the housing market to lock up.

Stay tuned and buckle your seat belts....

DJIA Chart

The "English Only" Movement Needs To Take A Good Look At The Law Books

Because it's been completely infiltrated with foreigners. The English Only movement wants to make English the official language of the United States. It seems they have focused their concern mainly on the diffusion of Spanish into US culture, with labels and signs being printed in both languages.

Yet I'm not aware of any outrage against the corruption of our legal language by the Romans. Just look at some of the ridiculous phrases I've found in Virginia law:

• Mutatis mutandis (139 references)
• Guardian ad litem (158 references)
• Sui juris (5 references)
• subpoena duces tecum (83 references)
• subpoena ad testificandum (1 reference)
  

That says nothing to the words and phrases that have already wormed their way into our beautiful language. Words and phrases such as:

• Habeas corpus
• Fiduciary
  
• Affidavit
  

But in all seriousness, why are we still using Latin in our law books? Is it because it's more obscure and therefore more intimidating? Is it because there's a long tradition of using Latin in law (there was a long tradition of not letting women vote also, it doesn't mean it was right).

There are perfectly good English words and phrases that could be used to make the law more understandable to common people. How many non-attorneys have a clue what "subpoena duces tecum" means? I'd bet the number is ZERO unless someone has been subjected to one.

And isn't one of the cornerstones of Western jurisprudence (OMG, there it is AGAIN) that the common people have the ability to read and understand the law?

Washington Is Much Closer To Wall Street Than Maple Street

In order to grease the wheels and get Monday's failed Wall Street bailout bill to pass in the House of Representatives, look what's been added to Senate's version of the bill:

• Increase the FDIC coverage for bank accounts up to $250,000 (up from a mere $100,000 And wasn't FSLIC deposit insurance part of the cause of the savings and loan debacle?? This will just drive us into another reckless investing spree)
• Force insurance companies to cover mental illness just like physical illnesses (Huh? Next they're going to throw in some free movie tickets)

These completely ridiculous amendments just go to show how far Washington is from main street, and how close Wall Street lobbyists are to your "representatives" in congress.

As yourself this question: How many people do you know now that have (or are even close to) $100,000 in the bank? Keep in mind, IRAs are already covered up to $250,000 and have been since 2006.

Why not add in something to provide FDIC insurance to working people's 401(k)? After all, since were bailing out other investors and going completely socialist, why stop just short of the dissaperaing middle class (and growing lower class)?

On the flip side, I bet there are a lot of Wall Street robber barrons who need that extra $150,000 in cash coverage right about now.