First off, Israeli politicians shouldn’t go blabbing publicly about war threats. The stock market is nervous enough about Peak Oil, it doesn’t need a Bombing run on Iran. The oil bulls started squeezing the shorts and the shorts capitulated because the dollar was falling like a rock because the EU said it might raise interest rates.
So I get off a road trip and turn on CNBC to see what they’re saying about the 400 point market meltdown, and here is this idiot Larry Kudlow saying “Buy, Buy, Buy” just like he did in August and January. You got to hand it to the guy, he’s what we call a contrary indicator. Just do the opposite of what he says.
John McCain’s team is coming to believe they are jinxed. Just two days before Obama starts his Economics tour of America, the unemployment rates jumps the most in 22 years. I’ve been saying since January that we are in a recession. Let’s get it over and start rebuilding the country under a new Obama administration.