Bernanke meet Zuma!

TGIF! Bernanke has spoken! Big Ben is single handily responsible for stimulating the stock market this morning. BB says that the strong dollar, lower oil prices coupled with the weak economy should curb inflation. Translation...the Federal Funds Rate should stay unchanged. That being said, the outlook for our economy is very uncertain. Most experts agree that the economy will continue to be unstable through 2009. Watch out Miss Cleo...the experts are trying to take over! Hey it's not just the US economy that's suffering. Reports from across the pond show that their economy came to a virtual halt in Q2. Cranky!

Another big financial mind had something to say this morning. Warren Buffet feels that Fannie & Freddie are too big to fail. However comma, he also said that shareholder equity in these companies could be completely wiped out! That's scary! Buffet went on to say that in the end the Fed's may have to bail them out as their problems are too great to receive help from the private sector. It's all quite scary if you ask me. You can't rely on the government to bail anyone out. They come up with these "solutions" that aren't really helping anyone! It's madness.

I'm moving on to Hollywood news because ironically it seems more realistic! The US medal count is currently at 102. The Chinese are right behind us at 89. Michael Phelps is going to be the new face on the Kellogg's Frosted Flakes Box. It's causing all sorts of scandal amongst the healthy folks. They feel that Phelps endorsement of such a treat will influence children to eat sugary cereals thus contributing further to childhood obesity. Umm....I wouldn't worry about the children. I think plenty of Mom's will be buying FF to check out his hot body! Fear licking of the box maybe! Just when you thought Hollywood couldn't name their children anything more outlandish than what we've seen in the past, Gwen Stefani named her new baby Zuma Nesta Rock. Perhaps they are die hard Marley fans? Can't be sure! Think of the child people!

Have a great weekend!