Bring Out the Shovels...We Have some Diggin' To Do!

Lots of news on this sticky hot Monday! I'll tell you whut (random Hank Hill reference), trying to figure out where rates are going is getting as bad as a trip to Vegas! It's madness I tell ya! I hate to report that everything is draped in red this morning. To me it's a welcome change as Friday saw 2 rate increases! Gheez!
Let's start with some good news. Kraft Foods is posting a 4% increase in profits for Q2. Perhaps more people are eating Velveeta and Oreos? Not! They just raised their prices. Tricky. Verizon Wireless is also on the upside of things. They are still off on their projected earnings but we'll take a small victory here and there. I love me some Verizon Wireless! "Can you hear me now?" Hey, did you hear that Congress passed that new housing legislation that will help over 400,000 homeowners? Well they did. My bet is that you won't see much if any relief from that. Look here...if you want to give us relief, let everyone refinance out of their ARM's no matter what the appraisal, income or debt looks like! I am a genius. That's why I'm not in politics. Just too smart. They can't handle me.
Time for a quick flip to the dark side. I don't like being a Negative Nancy so how's bout I just get it all out in one quick blurp. K...here goes...Oil is back up to $124 a barrel on supply worries (good one), Toyota lowered it's 2008 target and the world is in total chaos. Ok I can't back that last one up but I can top it. Have you ever had a rich relative that you loved dearly but couldn't wait until they kicked the bucket bcs you were set to inherit a small fortune? It's ok. I won't tell. Well let's think about our impending leader of the free world for a moment shall we? Whoever takes over the coveted office is set to inherit some "stuff"....none of it good! How does $490 billion in debt sound? Not so nice! How does one tackle such a debt? I mean, I fired the maid, started shopping at the Food Cat and have even sunk to doing my own pedicures. That alone saves me at least a few bucks a month. Maybe we should make the new President live in the ghetto, clean his own house and establish some sort of re-payment plan. You know like that credit counseling you see on TV. It seems apparent that we are living outside of our means. Just a thought. Glad I'm not waiting in line for that inheritance!
Now on to the best part of the day...funny stuff! If you have a TV I'm sure you've heard about the man that's slowly been cashing in over $20 million in...well it's not clear where the money came from but the word inheritance has been thrown around. Also thrown into the ring, Uncle Jose and Aunt Esther from Mexico. It seems this man lives close to the border and he was trying to "help a brotha out" by trading some old money for new. He walked into the flippin Federal Reserve and tried to cash in a bunch of old loot in exchange for a cashiers check in the same amount. What part of that was a good idea? Had he not been slowly cashing exchanging at several banks around the country, the Fed's may not have noticed. Or maybe they would since its $20 million! He's not sure where the money came from other than the ole relatives from Mexico said they found it all tattered and needed to exchange it. His best theory...that it was from a land deal gone bad and the owner buried it along with him in his coffin. Seems Uncle Jose was out digging after he found a treasure map and waaalaaa...there it was! Maybe the government should cease the funds and apply it to the $490 billion they owe. Just a thought.
Final words...See Batman! It was excellent. 2.5 hours long so wear your fuzzies. Have a great day!