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[Shazzam]

AN EMAIL I RECEIVED, WHICH I JUST HAD TO PASS ALONG-- HAPPY HOLIDAYS Twas the night before Christmas, when all through the Fed The printing presses were running, 24/7, full steam ahead. Stock portfolios were hung by the chimney with care, In hopes that earnings growth would soon be there: Investors were all settled snug in there beds While visions of rallies danced in their heads And bankers with their spreadsheets, and I in my cap Had just hunkered down for a long winters nap. When out on the trading floor there arose such a clatter I looked up from my Journal to see what was the matter. Away to my Bloomberg I flew like a flash, I pulled up the markets, they were starting to crash. As the markets were falling, I did not worry too much "Mr. Greenspan will save us, he's good at this stuff." At an FOMC meeting he whistled and shouted out plans; "Print dollars! Sell bonds! We have got to act fast. The markets need pumping, some priming, some gas. Free markets, bah humbug, are a thing of the past" When asked what will happen to get the economy on track He gave a small wink, and recited this verse "China's producing goods by the ton Were sending them dollars one by one It will take years for them to figure out The dollars were worthless, not even one single Yuan." Now M1 is rising as fast as a rocket The twin deficits are growing as big as a mountain. I could here from the Austrian economist Von Mises grave this advice, "Buy gold, buy timber, buy oil instead, of the financial assets that you have hoarded before. Fannie Mae and Freddie are time bombs beware. Now stash away, stash away, hard assets to all." As I turned to the Bloomberg to get an update, The markets had started to respond with some gusto, In 2003 stocks were up mucho mucho. Stocks with no earnings were up even more, Home prices held steady and things felt better. But signs of some stress were starting to mount, The dollar was falling and deficits were growing. I turned to Mr. Greenspan and said how will all this end? He just laughed and said, "Who cares, some day we will all be dead!"