Take Off the Rainhats

"Take off the rain hats and raincoats," so says Jack Welch, the former honcho at GE and an acknowledged business genius, who says that the economic hurricane and rainstorms are over. The government has done all the right things and the commercial paper market is opening up like a giant clam. Every person I respect in this business says basically the same thing. But keep in mind that the Liberal Press wants a recession, and a stock market virtually destroyed.

Drudge is not only full of shit, he's been full of it all night long. The stock market not only is NOT at a five year low, it's not even at a five day low. What an asshole. But he's quoting the FT. Big number to worry about is S&P 800.