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The Talking Heads

Anyone watching CNBC, and listening to their advice, is getting their heads handed to them in this market. They are doing everything they can to be positive and "talk the market higher" and of course they are dead wrong. This rece ...

Posted On October 22, 20081 MIN Read
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Anyone watching CNBC, and listening to their advice, is getting their heads handed to them in this market.

They are doing everything they can to be positive and "talk the market higher" and of course they are dead wrong. This recession is going to be the worst of our lifetime and 99% of the population is not prepared for it.

Moody's reported yesterday that over half of the country is already in a recession, and that only about 5 states still show a growing economy. Record debt levels will be the difference maker and its why I am so pessimistic about our chances for a short term recovery.

Oh...if you watch Jim Cramer and Mad Money... please view it only as entertainment. He can be brilliant in his thinking, but he changes his mind so much in the short term that it is impossible to make money with him.

Today will be ugly....back below 9000....likely for quite some time.

Kip...

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