Dear reader, 

Has Barack Obama gone wild?  

That’s the way it seems from our humble offices in Buenos Aires.  

Every day we look at the news… and we see more evidence that the Obama love affair is fading. More about what that means in just a minute. 

The fact is the halo above Obama’s head was bound to fade. He’s entering power just when the economy is spiraling downwards. 

This decline inevitably affects everything. 

According to Barry Ritholtz…  “Earnings are down over 60% over the past 17 months, making this the biggest decline on record.” 

And then Barry pointed to an article from the New York Times…

“IN the last 82 years — the history of the Standard & Poor’s 500 — the stock market has been through one Great Depression and numerous recessions. It has experienced bubbles and busts, bull markets and bear markets.

But it has never seen a 10-year stretch as bad as the one that ended last month.

Over the 10 years through January, an investor holding the stocks in the S.& P.’s 500-stock index, and reinvesting the dividends, would have lost about 5.1 percent a year after adjusting for inflation”

Reader, things are going from bad to worse. Even the rich and mighty in Dubai are having a hard time making ends meet. According to the Times…

Now, faced with crippling debts as a result of their high living and Dubai’s fading fortunes, many expatriates are abandoning their cars at the airport and fleeing home rather than risk jail for defaulting on loans.

Police have found more than 3,000 cars outside Dubai’s international airport in recent months. Most of the cars – four-wheel drives, saloons and “a few” Mercedes – had keys left in the ignition.

Some had used-to-the-limit credit cards in the glove box. Others had notes of apology attached to the windscreen.

This US debt implosion is spreading across the globe, dragging down every major economy with it. 

And our leaders are desperately trying to make it all stop. All it takes is a little panic and frustration to show a man’s true colors. 

With that said… why is Obama going so crazy 

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Maybe it’s the Keynesian approach he’s taking to this whole bailout mess. Or perhaps it’s the fact that he’s allowing this bailout go through congress with a “buy America” provision in it. 

Quite honestly, I’m not sure he’s even paying full attention to what’s happening.  

He’s too busy worrying about apologizing for nominating tax cheat, Tom Daschle for the cabinet seat of Health Secretary. 

This is what he said… 

“I’ve got to own up to my mistake. Ultimately, it’s important for this administration to send a message that there aren’t two sets of rules – you know, one for prominent people and one for ordinary folks who have to pay their taxes.” 

Of course, just a few weeks ago the newly appointed Treasury Secretary Tim Geithner apologized at his confirmation hearings that he mistakenly forgot to pay $34,000 in back taxes in 2001. 

Seems Obama doesn’t mind the tax cheats so much. Or maybe he’s just got too much on his mind. I hope he gets it together soon. 

On to today’s best picks… 

Chris Mayer with the Penny Sleuth says that railroad executives have been pretty confident in their ability to continue to raise prices on their customers in the middle of a recession – making these two buffet-backed railroad stocks attractive buys.  

Is it possible to save and even grow your money in the midst of the worst financial crisis since the Great Depression? William Patalon from Money Morning believes so. 

And in his first installment of a new series, he shows you exactly how you can do that with low-minimum mutual funds. 

Marc Lichtenfeld, Senior Analyst & Healthcare Specialist, Smart Profits Report points out that one of the best ways to make money in this market is to buy shares of companies that have grown even in this recession. 

He says shares of one company – with $62 million in cash, no debt, and that pays out a 5.7% dividend yield – should see much higher share prices in the year ahead. 

Charles Delvalle, writing exclusively for Contrarian Profits shows you how to profitably play shorter-term patterns for gains of 20-5 shows how to profitably play shorter-term patterns for gains of 20-50%. 

What he says about Google may surprise you (and make you 20-50% in the next few months) 

Cheers,

Will Bonner

Publisher,
Hidden Value

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