re: #367 3 wood

Good morning.

Well, we are now at the point that the Obama administration is on the verge of mismanaging the recession into a full blown depression.

The credit markets are seizing up again in reaction to the gross incompetance of Treasury Secretary Tim Geithner. We are close to 4 weeks since Geithner puked on his shoes and ran out of the room, promising more details on his banking plan later. Well, there have been no further details, just a couple public comments by Geithner where he trashed the coal and banking industries, said taxes should be increased and complained that he can’t get anybody to come work for him. This performance has convinced the bond market that he is out of his depth, will totally screw the pooch and so the corporate bond holders are scared that they will lose their investments. The TED spread has jumped in the past week.

Get ready for another large sell off in the market this week.

Oh, good grief!
There goes the college fund.
And the retirement funds.
And really, well, everything.
Holy cow.
We are so screwed.