The much-vaunted stimulus bill has turned out to be a nauseating, pork-laden mess. Score one for the cynics as President Obama’s credibility takes a hard and early hit.

The unemployment picture took on an even more ominous tone this week as new layoffs emphatically underscored a worsening global economy.  Now, fear is rising that the losses represent a major restructuring in the business world and that some, if not most, of the jobs are gone forever.

Caterpillar Inc., (CAT) predicted zero economic growth worldwide in 2009 and announced it will shed 20,000 jobs over the next few months. The world’s largest maker of construction and mining machines issued its gloomy forecast after a downturn that began in the United States grew into a full-blown global recession, gutting orders for its equipment.

The dismal U.S. unemployment numbers have gotten more airtime recently than Jerry Springer. And why not? The numbers are mind-numbing.

President-elect Barack Obama yesterday (Monday) asked Congress to release the remaining $350 billion in bank bailout money that’s part of the $700 billion Troubled Asset Relief Program (TARP). In a letter addressed to the leadership of both the U.S. Senate and the House of Representatives, top Obama economic aide Lawrence H. “Larry” Summers highlighted five key reasons the incoming president is seeking use of what remains of the U.S. Treasury Department’s $700 billion TARP.

Investors need to be ready for a downright nasty earnings season. Already, we are seeing some companies cut their earnings estimates by drastic proportions. If you are not prepared, it could get painful.

We turn to our government for support and guidance, but it seems all it does is disappoint us time and time again. Obama’s trillion-dollar deficit may be the feather that trips the global balance of power.

All sorts of investors are look towards Obama to boost their portfolio. Unfortunately, the folks that have not done their homework will get burned. Investors across nearly every industry are looking towards President-elect Obama’s trillion-dollar stimulus for a near-immediate boost to their portfolio. Many of them are going to be severely disappointed in the next few months.

Will the ADP report be a good indicator? …  China to slow treasury purchases? …  Gold as a store of wealth… Dealing with the devil… And Now… Today’s Pfennig!

A year without question marks…stocks have been up for the last three trading sessions – even dead cats bounce… The U.S. is facing a political problem, not an economic one… Obama’s American Recovery and Reinvestment Plan…but what is there to reinvest? The price of gold is going up – and people are finally catching on…will Mr. Market pull another fast one?…economics is not improv theater…and more