After Congressional Republicans sent Fed Chief Bernanke a letter that politely demanded the Fed cease on desist on all stimulus activities, I half expected Bernanke to drop a liquidity bomb on the market yesterday.

Now, I want to emphasize and point out that I’ve never endorsed any candidate for office in this letter. Nor have I disclosed my political affiliation. I won’t ever do so, for the simple reason that many people will immediately frame everything I say inside of a political construct.

I don’t write this letter under any political banner.

I’m a commodity investor for entirely market-driven reasons, and I’ll tell you what I told one of my critics: if you invest with a political ax to grind, you will lose money.

Politics and investing do not make good bedfellows.

So when I accuse the President of being a fool or a liar I do so apolitically, and I do it entirely of the construct of being a commodity investor.

There's a hidden tug-of-war happening right this minute. On one side stands a massive and hugely popular contestant, with millions of fans and groupies.

And this contestant gets bigger every day, every moment, even. He's closely acquainted with President Obama. He's best buds with Nobel Laureate economist and New York Times columnist Paul Krugman. He and John Maynard Keynes go way back.

You might know him as 'debt' or maybe 'deficit' if you want to get formal about it.

He's currently facing an opponent that no one really pays too much attention to. Sure, they'll pay some token lip service to debt's opponent - but c'mon; who is kidding who? Debt is WAY bigger and more robust than this puny shrimp.

I firmly believe that Ben Bernanke and I share a common viewpoint. We both have no idea what he's going to do four months from now.

There's simply too much uncertainty. We don't know what's going to happen with the multitude of economic indicators and whether they'll spell success or failure for his policies.

So let's back up and look elsewhere for certainties. I think I've found some bullish news for commodity investments.

Why?

As of this writing, there seems to be little chance that President Obama and his colleagues in the Senate and Congress will extend the Bush Administration's tax cuts.

Personally I think taxes as well as government, both state and Federal, should be cut to the bone.

Last night, President Obama delivered his first speech in the Oval Office. I’m guessing he chose the Oval Office to give his speech about the BP (NYSE: BP) oil spill because he hoped to evoke a sense of authority and intimacy for such an important and prickly topic.

After nearly two months of oil spilling into the Gulf of Mexico, this speech felt a bit flat. I think Obama might now realize that his skill in delivering powerful, inspiring platitude-filled speeches about America and hope and change, etc. doesn’t really transfer to the somber task of discussing plans for oil spill cleanup and reparation.

Full disclosure: I didn’t vote for the guy and while he’s certainly an accomplished speaker and quite possibly a perfect politician, I think his ideas about energy policy are completely useless if not outright wrong.

Forget last night’s disappointing speech for a second - here’s a quote from Obama after he received the Democrat Party’s nomination for Presidential candidacy:

The spill in the Gulf Coast near Louisiana is nothing short of a tragedy.  And for certain, it’s a man-made phenomenon.  There’s really no telling how bad this leak will be.  There’s concern that it will severely damage fisheries along the Louisiana coast.  It’s already disrupted shipping in the area.  And there’s no doubt, it’s not a good thing. 

Some analysts estimate this leak will cost BP (NYSE: BP) upwards of $3 billion in cleanup costs alone.  BP owns the drilling rig that exploded and caused the leak. That’s baked into the cake – BP stock fell nearly 10% last week and another few percent today.

President Obama was quick to blame BP.  They deserve the blame, but I think it’s a bit disingenuous of the President to angrily point his finger. On March 30^th, less than a month before this leak, President Obama announced his desire to allow additional offshore oil and natural gas exploration and drilling in the Gulf of Mexico.