The Wall Street PR machine just continues to churn out the same old tired message. The Wall Street public relations people make sure that they inundate even the local media markets with the same old message too.

Last evening, I was watching local CBS affiliate KDKA in Pittsburgh. Their fine money and politics editor, John Delano, spoke to a financial advisor from Smith Barney (Citi). Her message to investors was to stay the course and to believe in America!

What rubbish! I hate it when Wall Street PR people tell you that it is your patriotic duty to continue giving them your hard-earned money. The message to stay the course is, of course, the very same message that the captain of the Titanic gave his crew!

No matter that US stock markets are back to roughly the same level they level they were in 1997. No matter that the stocks markets are back to the level where Alan Greenspan spoke about "irrational exuberence". I guess all the "irrationality" is gone now, huh Alan?

It does not matter to Wall Street that some of their "sage" advice such as purchasing S&P 500 index funds for the "long haul" has devasted many people's long-term retirement accounts. The message from Wall Street remains - "Hey suckers, giving us your money. How else can we reward ourselves with lavish bonuses?"

The Buy and Hold for the long haul philosophy seems destined to go the way of the dinosaur.....