Hell has frozen over

Do hard core Republicans really dislike John McCain? I could not believe my ears when I heard Pat Buchanan diss John McCain and PRAISE Obama! I think this says more about McCain than feelings about Obama. What does this say to me? These folks have hunkered down and prepared for the apocalypse. They are willing to let a newbie take control rather than have McCain in the White House, and if things get F'ed up, they will be in a position to ride out the storm.

Let's look at some facts. Where do you see more Priuses, in rich neighborhoods, or poor ones? Where are the Costcos being built, in rich neighborhoods or poor ones? Need a private jet at $25 million dollars? Good luck, there is a two year waiting list for new orders.Think gas prices are going down soon? Tata Motors, India's biggest car company just bought Jag and Range Rover, and are about to produce the next peoples' car for the Indian and Chinese markets. This at a time when Indians use 1 barrel of oil a year, the Chinese use 2 barrels of oil a year, and Americans use 25 barrels a year.

So how does this play out for the fatcats? One word: assets. Asset prices will be driven down and cash will be king. Even rich folks who are leveraged will have to sell their stuff. Examples include Sam Zell selling the Chicago Tribune building and the Cubs, and the recent sale of the GM building. Oh, do not forget Ted Kopple trying to sell his $4 million dollar house in Potomac for $1.9 million, and Ed McMahon's $5 million dollar no sale. Guess what businesses are booming? Pawnbrokers and repo agencies.

Let's hope the strength we believe we see I Obama is truly there...