Bernie Sanders and dozens of co-sponsors intend to propose an Amendment to the financial regulatory reform bill tomorrow that would allow for a public audit of the Federal Reserve.  We are coming out, today, in support of such an amendment, recognizing that it is important to protect the American people and Wall Street itself from further economic recessions caused by speculative or hyper inflated trading.  As you see below, the Federal Reserve has typically manipulated interest rates to excessive degrees and caused excessive growth that was unparalleled by other indicators.  The excessive growth led directly to a collapse in the American economy that was sparked by the weak fundamentals of the economy matched up with unyielding consumerism and investment.  And afterwards, the Fed, in a typically corrective way, began to lower interest rates as rapidly as ever, again unreasonably inflating consumer spending and economic growth.  The Fed has used its liberty as an independent government agency generally outside the public eye to mess with monetary policy to make insiders of the industry money and reward speculative trading and risky derivative trading at the cost of the nation’s populace and its economic health.  The trends reached their peak under Alan Greenspan but they continue under Bernanke and the only way to truly put an end to the abuses is to audit the Federal Reserve and make it responsible to the American people.

It was the one year birthday of the American Reinvestment and Recovery Act (the Stimulus Package) and the President touted its success one year in.  And despite what many on the far right claim, economists on both sides of the aisle would agree that it has saved plenty of jobs.  By looking at recovery.org’s archives and other estimates we have compiled estimates of how many jobs were saved at 5 different points since the act was passed.  Below is our estimates of how it has benefited the economy.  All I have to say is, thank god it passed because otherwise, we’d be at a 10.9 percent unemployment rate.

The first trading week of 2010 is 2 days in and its looking good so far.  The Dow is up over a hundred points due to substantial gains made on the first trading day of 2010.  The Nasdaq and S&P also followed those gains with more gains today.  How does this relate to the entire trading year? That’s what we seeked.  Looking at the change in the Dow over the first 5 days of each year and comparing it to the entire year’s change yielded pretty unequivocal results.  We’ll let the graph speak for itself.  The data points are collected from this decade and prove that this is a pretty good start to what we predict to be a pretty good year for stocks.

1. Nvidia: We’ve written a lot about the strength of Nvidia in the Tech sector and the incredible upward potential of the stock.  Not to push the meme, but its clear to us, at Fiscal Frenzy, that the strength of the stock is made most evident during bullish market cycles.  As we’ve said, we strongly believe that 2010 will be one of the strongest years of economic recovery for the United States.  Therefore, Nvidia will outperform the markets and see a strong recovery.  As a manufacturer of graphics cards (generally considered luxury items), consumers will be much more prone to buy such products.  Therefore, the technical and other strengths of Nvidia make it our number one recommendation for 2010. 2010 year end Price Target: 29

2. Research in Motion: Another tech stock that we love is RIMM, a company that we believe to have incredible upward potential.  Just looking from the year 2006 to 2007, the stock gained over 400 percent.  Its clear that like Nvidia, RIMM benefits significantly from bullish market cycles.  Thus, with the Dow expected to have another year with gains as large as early 2007, we expect a double in RIMM’s stock bringing our Price Target to 130.

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