It was just announced that Congress and the Whitehouse have reached an agreement that will flood 117 million households (or families) with $600 to $1200 in mad money tax rebates. It supposedly amounts to 150 gigabucks.

Time to invest in Apple and Disney Resorts, because a lot of new iPods are going to be worn on trips to Disney theme parks. Same idea with flat screen TV’s.

Gold sounds like a good choice on which to spend the money.

Warren Buffett and Jim “Mad Money” Cramer see this latest Wall Street fiasco as a rat that will eventually pass through the python. 

While Wall Street sorts itself out, the rest of us need to understand what the Finance MBA’s are learning in B-School. The finance geniuses wizards seem to have an endless supply of schemes for brittle financial instruments. Yet another house of cards has collapsed. 

Deficit spending and the low value of US currency are huge problems that the GOP should be held accountable for before Bush the Lesser slinks out of DC. Where does Bush think the money will come from with his rebate? Obviously, it’s from the presses at the treasury or debt in the form of T-Bills.

Question of the day: What value does a country that is busy exporting its industry derive from a devalued currency? 

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