Baltimore: If today’s action from the markets is any indication of what investors think about Uncle Sam and his Washington minions, the upcoming mid-term election is going to get interesting.

Nothing talks in Washington any louder than money.

Is the drop in the dollar worth watching? Just like the sun will eventually shine its last ray of light, the mighty dollar will someday buy its last barrel of oil or its final container of Chinese imports.

We all know it is going to happen, so why bother discussing it. Right?

Bill Bonner, venerable voice of reason (with a touch of doom), at The Daily Recokoning, looks long term at gold, the markets, and the end of the depression.

The 19th century belonged to Britain, the 20th century belonged to America and in the 21st century, China will rule the business world. Whether you like it or not, this transition is already underway and it will intensify over the coming decades.

Baltimore (TFN): The Fed is meeting today. And I ask who cares? At this point, Bernanke and his troupe of politicians masquerading as economists are in so far over their heads, no matter what they do or say, you can bet the move is designed to protect their butts, not yours.

The bear market has taken its toll on hedge funds so far this year. In the first half of ‘08 average hedge fund performance was a negative .75%. This from Bloomberg:

Rapid global expansion is leading to profit opportunities on a scale that has never before been possible.