In this post last week I said Fed Chair Bernanke was an indecisive Hamlet in an Armani suit paralyzed by thinking and thinking of this and that instead of acting. Well he still hasn't so much as issued a statement AND THIS CREDIT MESS HAS BEEN GOING ON FOR A WEEK. Cramer was right to blow up on CNBC the other day when he screamed at the top of his voice that the people at the Fed had no idea about what was happening.
This situation has deteriorated from bad to serious to really fucking serious and still no Fed statement. Another Bush brilliant appointment? Harriet Miers in drag? We can only pray. Today before market opening it looks grim once again. And worse, all the smart guys are saying that all economies are strong and there will be no recession. ARE THEY FUCKING CRAZY? You don't lay off the entire construction work force and still have a strong economy. We have raging incompetents at almost every level of government. The investors are the only ones that smell a rat. For Thursday, data may show housing starts falling to a 10-year low. Weekly jobless claims and a Philadelphia-area manufacturing gauge also are due for release.