Total Denial

What we saw yesterday in New York tells us we DEFINITELY have further to fall.

Some people are clearly in TOTAL DENIAL about where we are in the markets.

Picture an ostrich with his head in the sand, while the world all around is on fire.

Dow plunges on news recession began in Dec. 2007 (AP)

Most Americans sorely knew it already, but now it's official: The country is in a recession, and it's getting worse. Wall Street convulsed at the news — and a fresh batch of bad economic reports — tanking nearly 680 points. With the economic pain likely to stretch well into 2009, Federal Reserve Chairman Ben Bernanke said Monday he stands ready to lower interest rates yet again and to explore other rescue or revival measures.

BIG NEWS: We are in a RECESSION! Have been for a while! Get a clue! Get over it!

Anyone who did not know this already, please raise your hand...

Sometimes I wonder what planet people are living on.

How is possible to be sitting in Vietnam and see this, clear as day, while people on Wall Street, at the epicenter of this nuclear holocaust we so politely refer to as a meltdown, cannot see what is happening in front of their eyes.

Total Denial!

Well, to anyone who did not see this coming a mile away, there is a good kick in the head for your troubles.

YES Virginia it is a Recession and YES we will be lucky if it does not turn into another Depression.

And NO you should not believe in Santa Claus or Santa Claus Rallies.

Hoard your cash and play it safe, because 2009 is going to be long and painful.

Let Scrooge be your role model. Bah Humbug!