OT:

Good evening.

Look for the market to give up more gains in the next few weeks as it is becoming rather obvious that President Obama has declared war on several areas of commerce in our economy. For anybody who watched Jim Cramer tonight, he gave an amazingly coherent summary of this, for which I’m sure he will be savaged by the MSM.

The industries that Obama is working to ruin are:

1. banking
2. coal
3. steel
4. autos
5. health care

This has become ever so clear in the last few months, so look for a lot of investors to cash in some chips and stand back. Expect to see unemployment keep going up and stay high for the foreseeable future and for taxes to climb.

As I have mentioned before, Obama’s budget assumed a 4% a year growth in GDP. Just think about what not making that growth rate will do to the deficit year after year after year.