My first post of this blog on Monday, October 20th, 2008 predicted s&p at 600. We are now less than 80 points away.

The following charts shows that the current market downtrend exceeds the losses (thus far) of the stock market crash of (1929) the great depression:

Jon Stewart’s Daily Show also has a very funny and informative piece about CNBC (or CNBS as some refer to it). For the most part I tend to pretty much go by the philosophy that CNBC is a contrary indicator. Whatever they say to do, do the opposite.

One thing I should mention is that Santelli was against the bailouts for wall street also. Most MSM commentators seem to miss this.