John Corzine wanted to destroy MF global.  Corzine brought down MF to help Obama get reelected.

Scamsters like Madoff or Lay get away with their frauds for years.  Decades even.  They try to avoid getting caught.  Yet Corzine blew up MF Global in a year and a half.  Why?

This are several possibilities.  One, MF Global’s collapse was not criminal.  Yet this is impossible.  If it was merely a case of too much leverage going the wrong way, MF would not have looted customer accounts.

Two, the collapse was criminal but Corzine was not aware.  Highly unlikely.  Corzine was hands-on, personally steering the bets, and he alone had permission to avoid the company’s risk guidelines.

Three:  Corzine collapsed MF Global on purpose.  This explanation sounds crazy, but it works.  But why? Even if Corzine personally looted $1.2 billion and it’s sitting in his Swiss bank account, he’ll presumably go to jail.  Unless . . . Corzine knows he will get a presidential pardon.

Why would Obama pardon Corzine?

Obama has borrowed more than almost all other presidents put together.  Obama prints money like a madman to fund his borrowing binge.  The only thing that would put increased pressure on Obama to stop printing money is rapidly rising commodity prices.  When gasoline hits $10 a gallon, Americans will rally in the streets against Obama’s money printing.

The MF Global collapse kicked the legs out from under the commodity market.  The fallout from MF Global could keep commodities depressed for at least 6 months.  Giving Obama time to print enough money to win the White House in November 2012.

If Corzine were a businessman without political connections, this might sound like a far-fetched conspiracy.  But Corzine is a Democrat politician first, businessman second.

Our guess is Corzine already has Obama’s presidential pardon in hand.  It won’t be announced until days before Obama leaves the White House.

All those Chevy Volts bursting into flame are part of Obama’s Green Energy Plan.

When your Chevy catches fire, you won’t be driving anywhere.
This reduces your carbon footprint!

It’s nice to have a rally in the Dow.
But commodities are the place to be.

With each development it becomes clear governments are going to print more money. It is the only thing they know how to do.

“For the first time in my lifetime, I am finally proud of NASCAR”

NASCAR Crowd Boos Michelle Obama.

Mark Steyn’s After America is a tour-de-force of the dismal dystopian decline resulting from America’s liberal welfare state democracy.

We’ll post a full review when time permits.  For now, one point Stein makes:

In America today, you have to fill out dozens more government forms to start a business than to apply for welfare.

A year or so ago Jim Rogers said bankers will be broke, and farmers and commodity producers will drive Lamborghinis.   Today, an article about a high school-dropout miner who earns $200,000 a year. Mr. Dinnison doesn’t drive a Lamborghini, but he does have a $60,000 Chevy Ute.

We’re headed into a 20 year cycle where commodity producers will get paid like hedge funders.  Unlike the hedge fund traders, the miners will earn their money.

Hundreds Say They’d Take Australian Mining Job – WSJ.com.

It’s great to see 40 Congressmen demanding Eric Holder resign.

Eric Holder is the most lawless Attorney General in history. Holder’s illegal sale of over 2,000 weapons to Mexican drug cartels makes Holder a criminal. Perhaps an accessory to murder.  Eric Holder should be in jail.

This is not Holder’s first flaunting of the law.  Holder went out of his way to avoid justice for the armed Black Panthers who intimidated whites at polling stations in the 2008 election.  (Get ready for a lot more Obama thugs at polling stations in 2012) Holder also facilitated the pardon of Marc Rich.

Eric Holder is an embarrassment to the United States of America and the Justice Department.  So why do we want Holder to stay in office a bit longer?

Because Holder is Obama’s consigliere.  To create maximum damage to Obama’s reelection campaign, Holder should be forced out shortly before the 2012 election.

If Holder departs today, Obama has plenty of time to line up replacement thugs to intimidate voters in 2012.

We’ve criticized Johnson and Johnson before.  It just gets worse.

JNJ makes regular baby shampoo, and Natural baby shampoo which sells for twice the price.  ”Who would buy the Natural for double the price?” we often wondered.

We would! It  turns out JNJ removed cancer causing chemicals from its shampoo and soap in Europe – but intentionally left the carcinogens in for the U.S. product. Don’t want to wash with formaldehyde?  Then you have to pay twice the price for Johnson’s Natural shampoo.

This is on top of 40-plus product recalls.  William Weld is an incompetent buffoon.  It is time for JNJ’s board to force Weld to retire.

Recommendation: DO NOT BUY JNJ until it’s washed clean of Weld.

Hell has frozen over.  Warren Buffet bought a tech stock!

The astonishing part is Buffet bought a lot  of IBM.

The 64 million shares snapped up by Berkshire Hathaway since March are now worth $12 billion. That makes IBM the firm’s second most valuable stake in a listed company after Coca-Cola. 

We hold IBM in high regard.  It’s a well run company that’s lasted 100 years.  But we’re amazed Buffet is willing to bet as much on IBM as Coca-Cola.  Frankly, we don’t understand it.

ibm brk.a – Overheard – WSJ.

We don’t usually recommend high priced growth stocks.  Today is an exception.

Activision Blizzard produces hits that blow away the competition.  No other video game company produces hits as successful as ATVI.  Call of Duty MW3 is on its way to being the best selling video game of all time.  Services like ATVI’s $50 a year Elite service will allow ATVI to increase subscription-style earnings from game sales.

A PE ratio of 31 is sky high.  But ATVI tripled its earnings, and they can do it again: “net income for the quarter ended in September jumped to $148 million, or 13 cents a share, from $51 million, or 4 cents a share, in the same period last year.”

Recommendation:  BUY ATVI $13.93 pe 31, yield 1.18%