April 16, 2008 10:48AM

Intel to the Banking and Government Thieves: Biz Is Just Fine!

By Cody Willard

Intel’s report was shockingly good, if only because we all expected so much bad.  I certainly, even as bullish as I am for the near term, didn’t expect that Intel would talk up demand trends.  I mean, you mean business is GOOD?!

Remind me again why we’ve taken hundreds of billions of your tax dollars and given to the richest people on the planet who are simply worried that the market’s going to hand them their head for overspeculating and overleveraging themselves?
Why do that when Intel’s still making billions!!  Every quarter!

The fact is that economy might get bad.   Might “get worse” if you wanna be one of those who whine about living in the only society ever with a multi-decade 95% employment rate.  Banks, even some of the world’s largest investment banks might go bankrupt since they gambled too much in the good times.

I ask again, so what?!

Intel’s still got access to capital.  They reiterated their cap ex guidance of several billion dollars for this year again last night.  Yeah, during the report that they said they made billions in the last three months, they also said they’ll tap some serious capital to invest in new technologies, create more capacity and otherwise grow their business.

All without the direct theft of your taxdollars…even though Intel itself and certainly its little cousin, AMD, might eventually face bankruptcy — if only because, yes, the economy COULD GET REALLY BAD!!

What a crock these bail out packages are.  How many times have I said on Happy Hour that any bailout will only benefit the rich, the bankers and the homebuilders.  Read this:

Big Tax Breaks for Businesses in Housing Bill

By STEPHEN LABATON and DAVID M. HERSZENHORN

Published: April 16, 2008

WASHINGTON — The Senate proclaimed a fierce bipartisan resolve two weeks ago to help American homeowners in danger of foreclosure. But while a bill that senators approved last week would take modest steps toward that goal, it would also provide billions of dollars in tax breaks — for automakers, airlines, alternative energy producers and other struggling industries, as well as home builders.

Seriously, how much do you hate the Republicans and Democrats and their corporate cronies running this country?  Make ya sick, yet?  Quit voting Republican and Democrat then, for crying outloud…alas, I digress a bit now, don’t I?

Oh, and finally, the trading takeaway from this seemingly endless ranting post of mine here:  Stick with the bull side for the short term…the fundies just might not be as bad everyone seems to expect.  See Intel’s actually being rewarded with a nice rally today, for example.