R-E-C-E-S-S-I-O-N

Unemployment up to 5%.

Only 18,000 new jobs created last month.

GM and Ford sales down drastically in last few months.

Oil at $100 with gas at $3.50, maybe even $4.00 not far behind. United announces a $10 raise in ticket prices due to expensive oil.

Anyone out there still think all is well?

Anyone out there still think the housing crash is contained and sub prime is nothing to worry about?

Anyone out there buy into the Larry Kudlow, Jim Cramer bullshit about the stock market?

Today will be a fun day to watch CNBC and those blithering idiots try to spin this away and beg Benny B for a 50 point cut. They are like a doll with a string. Pull the string and "WE NEED A RATE CUT" is spoken by the doll. Wahh wahhh wahhh, we only got a 25 cut. Go to hell cry babies.

Oh and I expect RTH to plunge a hell of a lot more. My Jan '08 puts are up almost 200% since a few weeks ago. Let's go for for 350% today. RTH is you recall is the Retail Holders, a basket of 19 retail stocks such as Walmart, Home Depot, Macys's etc. And as I have said over and over, retail is poised for a serious beating. And what do you know...it has taken a serious beating. Not rocket science here. When the country is in a recession, people cut their spending. When people cut their spending, retailers suffer. You'd think the so-called experts would figure this out too.