Tanked

Today the stock market tanked. Meanwhile, back in la-la-land, John Mc Same told us the "fundamentals are sound".

The financial markets are in "turmoil". Banks are foundering. Production is down. Unemployment is up. In addition, real estate still hasn't found a bottom.

Jobs are disappearing -- and the rest of the world is reeling, caused by the meltdown of the USA financial system.

One little side effevt of the Fannie, Freddie takeover is the fact that their preferred stock is now worthless. Most of it was held by BANKS -- who now have lost significant assets, taken a good hit to their balance sheets, just when they need those assets.

It's almost as if the Federales want to impose National Socialism by a necessary takeover of the banking and financial systems.

Another group we looked up to as "the smartest guys in the room" (where have I heard that before?).

It seems almost insane the so few were aware of the problems -- the mantra of "whocudanode" no longer flys.

As the economy melts down -- our peerless leaders don't even address the issues.

What in hell is going on?