Its Official - Obama Fatigue

Well this time we didn't even make it to the Inauguration before becoming disenchanted with a candidate. That beats our record set by ... wait for it ... Bill Clinton.

The straw that broke the camel's back, at least for us, was Obama's nomination of Eric Holder as his Attorney General.

After suffering through that continuing assault on the Constitution known as Alberto Gonzales, one might have expected the President-elect to appoint someone with a sterling reputation for upholding the rule of law, and not performing as a compliant tool to a particular Administration.

As the Deputy to Janet Reno from 1997, Eric Holder was intimately involved in many of the more controversial actions in the twilight of the Clinton Administration, including a key role in the infamous pardon of financial fraudster, Marc Rich.

Obama has spent much of his goodwill now with a series of highly cynical appointments of Clinton insiders, with virtually no signs of any type of a reform government.

He still has all our best wishes of course, but a healthy skepticism has already replaced much of the initial optimism. The honeymoon is over before it got started.

Bush II did not lose this voter's support until it was proven, at least to our satisfaction, that he systematically lied to the nation about something important, the case for the Iraq war.

The same criteria will apply to this President as well. But the goodwill has been spent.

Charts in the Babson Style for Midweek January 14

As a reminder, this Friday January 16 is options expiration.

Also, US markets will be closed on Monday January 19 for the Martin Luther King national holiday.

The markets will be open on Tuesday January 20 which is the Inauguration Day for the incoming President Barack Obama.

US Military Warns on 'Sudden Collapse' of Mexico and Pakistan

It is easy to accept that Pakistan is risky, and nuclear, but Mexico seems more like a toss up with Detroit.

There may be an Amero in Mexico's future.

El Paso Times
U.S. military report warns 'sudden collapse' of Mexico is possible
By Diana Washington Valdez
01/13/2009 03:49:34 PM MST

EL PASO - Mexico is one of two countries that "bear consideration for a rapid and sudden collapse," according to a report by the U.S. Joint Forces Command on worldwide security threats.

The command's "Joint Operating Environment (JOE 2008)" report, which contains projections of global threats and potential next wars, puts Pakistan on the same level as Mexico. "In terms of worse-case scenarios for the Joint Force and indeed the world, two large and important states bear consideration for a rapid and sudden collapse: Pakistan and Mexico.

"The Mexican possibility may seem less likely, but the government, its politicians, police and judicial infrastructure are all under sustained assault and press by criminal gangs and drug cartels. How that internal conflict turns out over the next several years will have a major impact on the stability of the Mexican state. Any descent by Mexico into chaos would demand an American response based on the serious implications for homeland security alone."

The U.S. Joint Forces Command, based in Norfolk, Va., is one of the Defense Departments combat commands that includes members of the different military service branches, active and reserves, as well as civilian and contract employees. One of its key roles is to help transform the U.S. military's capabilities.

In the foreword, Marine Gen. J.N. Mattis, the USJFC commander, said "Predictions about the future are always risky ... Regardless, if we do not try to forecast the future, there is no doubt that we will be caught off guard as we strive to protect this experiment in democracy that we call America."

The report is one in a series focusing on Mexico's internal security problems, mostly stemming from drug violence and drug corruption. In recent weeks, the Department of Homeland Security and former U.S. drug czar Barry McCaffrey issued similar alerts about Mexico.

Despite such reports, El Pasoan Veronica Callaghan, a border business leader, said she keeps running into people in the region who "are in denial about what is happening in Mexico."

Last week, Mexican President Felipe Calderon instructed his embassy and consular officials to promote a positive image of Mexico.

The U.S. military report, which also analyzed economic situations in other countries, also noted that China has increased its influence in places where oil fields are present.