Market Turmoil

From the beginning, I have been saying that this Great Recession was caused by too much debt. Consumers, households, corporations, governments (state, local, and federal) all took on too much debt . I have said this situation is going to get worse. It has.

I cannot believe the level of denial I see when I watch financial news. Nouriel Roubini and Pimco's El-Erian were on Squawk box, and they were right again. Although the hosts would not swallow, the truth...of course.



Reckless lending, borrowing and excessive leverage destroyed this economy. Not insightful economists who saw the crisis coming.

Yesterday something "went wrong" when the DOW dropped 900+ points in minutes. It must have been a "mistake".

Yeah, I am sure if the DOW would have been up 900 points they would have been trying to find out which guys made the "mistake".

Really? Trading is trading, no matter how fast it happens. It just scared the shit out of them.

The bulls are just mad they were wrong... again.