I woke up (around 2:00pm as usual) feeling pretty good today. See it’s my wife’s birthday and our anniversary and I spent last night baking a delicious Pineapple Upside Down Cake (with twice the amount of brown sugar) and getting ready for a day of feasting at the finest restaurants. Then the rug was pulled out from under us.

First we learn that the morons at the Fed cut rates today by .75% in a move designed to help foreign markets whose economies were falling on fears of a recession here. It doesn’t help people like my wife and me who put much of our money into savings accounts to benefit from the modest growth. We did the smart thing, low risk even though it had low, but guaranteed returns.

The Fed is punishing us by making our returns every year smaller but thank goodness the Indian markets will remain artificially solvent. Oh and forget about cheap oil, the Fed’s cut will stabilize an oil market that was in free fall, with prices dipping below $90 a market within a couple of days. Now the oil countries can continue strangling us economically.

Oh, and joyously, congress will get involved to “stimulate” the economy.

Then I hear Thompson dropped out of the race. Thompson was the only Republican in the G.O.P. field, a field dominated by so called “independents” whose policies mirror Democrats most populist policies. I wasn’t surprised but I hoped that Thompson would at least fight on to drive the party right. Reagan lost plenty of primaries and I guess we Fredheads thought another upset was in the cards.

So with Thompson out and a Fed whose moves are more influenced by the needs of Banks and foreign markets then the American people we’re looking at some seriously troubled times for our country ahead. The G.O.P.’s, and American’s, only hope is to take back the house and senate before one of the current crops of Presidential candidates takes office.

This is the day, my friends. The day you’ll all remember. Ten or fifteen years from now when we are reliving the 70s, when Islamists are marching through Europe, when your rights have been trampled for “the greater good” you’ll remember the day when the last conservative dropped out the race and the Fed all but admitted that foreign interests are factored into their policies before American interests are.

Fred’s withdrawal statement is here. Read it and weep America.