We put this out via press release this morning, so I thought I'd post it here, fyi: Delta Global Indices Introduces Global Shipping Index Delta Global Shipping Index to Track 30 Global Maritime Shipping Companies with Combined Market Cap near $50 Billion and an expected dividend yield of approximately 8.25% ...people sell stocks. I've always had the impression that he hurt stocks each time he opened his mouth during this crisis, but this time I ran back the Tivo and the proof was there: the Dow was down 83 points when he took the mic, down 185 when he was done speaking. Actually, that's probably an improvement over his recent performances. It is now being reported that authorities may announce a plan to guarantee all bank deposits in America for a temporary period of time in order to shore up confidence and prevent a run on banks. See full story here. I'm working at the office extra late tonight, so I went to the Domino's website to look up the nearby location and order a pie-- I enjoy more than my share of pizza, obviously, I just hadn't ordered it here at the office myself. So, anyway, not only can you order online (no surprise) but they had this little fed-ex style tracker so I knew where my pie was at all times, which, it turns out, is very comforting to a big fella: Look, CNBC, we love ya-- we're happy to appear when you invite us (our Michael Pento will be on Kudlow's show tonight, actually) and I sincerely believe you guys have done by far the best job in covering the financial turmoil we've seen in recent weeks. That said, this was one of the worst segments I've ever seen in my life: Below is a great post from Red County about the true cause of our current financial crisis: Washington D.C., not Wall Street.  Read on for a tremendous description of how the political agendas attached to affordable housing pushed Fannie and Freddie to abandon all common sense. In it, Richard Swier posts the remarks of Ed Pinto, the former Chief Credit Officer of Fannie Mae (from 1987-'89). Mr. Pinto will also be the guest on the next episode of my podcast, Market Neutral, next Tuesday.  Here's the article: Nearly 3 weeks ago I predicted John McCain's lack of anything resembling an economic philosophy--let alone one related to small government-- would lead to his undoing in the polls. Ok, that has happened and this election looks to be all but over. In Tuesday's debate, however, McCain took his fiscal silliness to a new level: suggesting that if he were elected, the federal government would buy back any mortgage worth more than its home. WHAT?! With everyone's heads seamingly in their hands right now, I wanted to point out a great, short podcast from our Michael Pento, which just posted to GF earlier today. Really, if you're confused about where we're going and what you should be thinking about with your investment dollars, take the 5 minutes and give this week's show a listen. All along, Pento has been predicting quite clearly how central banks would react in the aftermath of the housing bust, and this week's news has proven him right. If the bailout turns out to be a big flop, cries of "nobody could have known" and "we were just trying to come up with the best solution we could" won't count. Many knew and warned against the bailout; the bubble was built on the back of years of bad policy, and no quick fix was going to prevet the deleveraging which had clearly taken hold. The only questions we're all grappling with now are: how far does this have to go before we're cleared, and what will the survivors look like in the wreckage? It's an ugly market, so let's take an afternoon to look at something completely different and much more upbeat-- a story about a good friend of mine: In the Clear