Dear New World Investor:

The market rally is on track and beginning to show signs it will head for my mid-range targets, 1060 on the S&P 500 and 10,000 on the Dow Jones Industrial Average. This in spite of the fact that the President of the United States just fired the CEO of a company in the Dow Jones Industrial Average. Forget Kansas, Toto, I’m beginning to think we’re not in America any more. Or even on Planet Earth.

I have no problem with GM’s CEO being fired. Since Rick Wagoner became CEO, GM lost $90 billion and the stock went from $70 to $2. That’s world-class terrible performance. GM lost $30 million a day during his tenure, killed and literally crushed the EV-1, and continued to sign deals with the union that would eventually kill the company and many of the employees’ jobs. My two problems are:, first, shouldn’t the Board of Directors have fired him, instead of President Obama? And second. by elevating the Chief Operating Officer who was Wagoner’s right hand man during this disastrous reign to the CEO slot, what has Obama accomplished? One can only hope that Fritz Henderson, the new CEO, has

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