A 500 year flood overwhelms all boats.

Things are bad, and don't listen to Larry Kudlow and his Goldilocks economy. The data that came out last night on Market Watch, Bloomberg, and the other usual suspects. Even Toyota, supposedly recession proof, reported a sales decline of 20+ percent. Amex with the cream de la cream of credit risks is losing their asses due to high end defaults. The best summation of the shit that is falling is HERE. Let me emphasize: high end credit is falling apart too. A 500 year flood overwhelms all boats.