Econ and Markets: Many of us are concerned that Greenspan has decided to stomp on the economy and cause a recession AGAIN. This piece in Biz Week showing that the amount of money being spent on housing has become dangerous in the extreme, squeezing out other spending and already hurting the economy. Using these graphs it is easy to see where Greenspan is coming from, but where does it say that a Fed Chair has to fine tune an economy? Get ready for Greenspan Recession III.

Mercedes continues to slip, and slip badly, in both sales and quality of product. Cadillac has taken off like a moon shot (good for GM), as has BMW.

Goody Goody, the Dow is breaking out. Sorry, the high it has to take out is above 10,900 and then 11,200 before a real live breakout takes place. We could be on a run of 400 points from here, but new highs?

All the super touts are touting Europe, which makes me think that anything European has to be shit. When everybody is something or other, the something or other is over. I think the opinion that the EU is going to go capitalist with both Chiraq and Schroeder out on their asses is IN the market. As an aside, the French rejecting the treaty doesn't mean much other than voters are now getting their news on the web rather than from their government controlled TV and monolithic single opinion press. They, like us, are totally pissed. Does MSM in any country get it? Ho, ho, that's rich. In fact the fascist single voice MSM in every so-called free country is the single biggest unreported story. The elites, the super rich and governments rich enough to own money losing enterprises, have finally been caught everywhere. Will they change? No, because they are too rich to care. Will they fold? Governments won't let them, or more accurately the unions won't let them.