Lenin Is Relevant

Of course, many unpredictable things can happen, but straws in the wind suggest that life goes on -- existing and new home sales data, bullish talk from chastened banks, Obama's grace under pressure, inflation rising.

The short sellers and Rush Limbaughs cheering for failure might have to return to shouting about the nation's moral shortcomings and forget the apocalyptic economic rants.

I know, perhaps instead of straws in the wind, I am grasping at straws. After all, I once thought the market bottom was in November! So my imagination may be just that.

However, optimist that I am, I prefer to believe that the next shot is hitting the green from 200 yards out and putting for birdie. I base this on the evidence that stimulus in the pipeline and the economic data point to earnings gains and higher equity prices this year.

Mr. Geithner, the Treasury secretary is wrong, saying today the market cannot handle the crisis. No, the market will solve the problem. What he really means is the market's terrible swift sword would tear such gaping holes in the social fabric that a world lit only by fire would result.

Distasteful as it may be in some quarters, government must intervene aggressively to keep those who would let the market work its "magic" from losing their shirts, not to mention their heads. It's called saving capitalism from itself. Joseph Schumpeter (the economist of "creative destruction" fame) thought it couldn't survive.

Lenin's strategy of accentuating contradictions, i.e., things must get worse before they get better, works for Bolsheviks, but it only leads to dropping those who have the most to lose on the ash heap not only of history but a foreclosed McMansion.

Sticking with PALM, AMD and F, despite the Sooners' demise (OU held the Tar Heels to well below their average point total but still couldn't score themselves!). Oh well, it's just a game and I'm aiming for the green and replicating Woods' miraculous touch with the putter.