Ho! Ho! Ho!

All weekend long I’ve been listening to Bing Crosby, Louie Armstrong, Michael Buble’, and watching Jimmy Steward, Natalie Wood and of course Ralphie (You’ll shoot your eye out!). It’s been a “wonderful life” of fantasy and with the massive snowstorm on Friday the winter wonderland was complete and thus began my favorite time of the year – Christmas. I even watched Ebenezer trying to change my mood but ultimately he came to my way of thinking. No Scrooge in this house.

Not to be totally diverted from my work I spent several hours reading and listening to Barack Obama, Joe Biden, Caroline Kennedy, Nancy Polosi, Ben Bernanke and Hank Paulson. I was looking for something from George Bush but apparently he was out Christmas shopping.

What’s interesting is that both the entertainers and the politicians dealt or are dealing in the same Christmas spirit, Fantasy. But that’s ok because the markets want fantasy. The markets are living on the fantasy of Hope. In the short term, Hope can be very powerful and could generously fill our stockings and put myriad presents under the tree.

Yes Virginia, there is a Santa Clause and Wall Street is Hopeful the old gent will deliver. Unfortunately, Christmas comes but once a year and we must turn from Fantasy to Reality. When that comes, Scrooge could have his way. However, we’ll take the fantasy until we must face the reality and I’ll stay long and enjoy the croonings of Louie and Bing, the bedtime stories of Ben and Hank, the naiveté of Jimmy, Ralphie, Barack and Joe. Ho! Ho! Ho!

Wishing you and yours a very Merry Christmas and a Happy Holiday Season.

Till next time,

Bill

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