February 24 Edition

Good Morning All,

Markets continue to be ruled by the banking crisis, and in America, the Wall Street analysts, pundits, practitioners and knee jerk ideologues remain concerned, if not incensed with the word nationalization. The administration also appears fearful of using the "N" word, even as it effectively puts it into practice. In a bid for greater clarification I would humbly suggest that the President incorporate the following phrase into this evening's important address to this worried nation. First used by our own MacKenzie King in W.W.ll and later paraphrased by the new leader of Canada's Liberal party, it would sound something like this; "nationalization if necessary, but not necessarily nationalization".

Markets have been extremely noisy of late and I am not sure that they are truly reflecting the future potential of the world economy. They are certainly reflecting the nation's fears, almost to the point of exploitation. At this moment we may be looking at a generational opportunity.....or the beginning of the end of the world as we have known it. Being of the belief that the world is at a far more advanced place than at any time in history, I find myself in the former, more optimistic camp. It is usually during times such as these that I quote W.B.Yeats' first verse of his poem "The Second Coming" but in lieu of space I will ask those of you who care enough, look it up. Times are tough, but they have been much tougher many times before, times when we were not quite as smart, or quite as civilized.

Stop listening, for a moment, to the people who got us into this mess, and start paying heed to the ones who will get us out of it.