8/18/09

They promise, promise, promise....

News. Philadelphia Mayor Michael Nutter on Monday announced an additional $20 million of cuts to the city's fiscal 2010 budget, citing the failure of state lawmakers to agree to budget-balancing measures.

Nutter also said 30 positions will be eliminated effective the end of August, regardless of whether state legislators reach agreement on a proposed increase in the city's sales tax.

My point. People ask. Politicians give. Until they do not have any more money. We do not seem to learn. Why? Beause we are greedy. We rather sink with the ship than try to save it. See what happened to GM.

To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/ where you can review The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs.

I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes.

George Dagnino, PhD
Editor, since 1977

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