Happy Daze are Here Again?

Recession Called Off: from looking at all markets both foreign and domestic it's hard to make a case for continuing declines. The S&P (above center) is clearly breaking out to the upside no matter how the chart action is viewed. Wheat, corn, and soybeans continue to be too high by at least 50% but cattle prices are not all that high all things considered. If Congress will cut that ethanol bullshit (don't bet on it with huge agri-businesses riding a subsidy bandwagon) lots of the price pressures will subside. Chart on top of post is of all commodity indexes, and as you can see, every one of them has turned down. The dollar (chart in post below) looks to be turning and this will be good in the short run.

A media recession: I've warned here many times that the media is cheer leading the recession because bad times are good for Democrats. Almost all business is international now and for a really big recession you need both Europe and Asia joining in. They ain't. If oil prices continue down it will affect lots of prices, including grains (transportation costs will plummet). When bad news vanishes from the front pages it will guarantee that the recession is over.