Weakness

Two observations that I think Mr. Chuckles is starting to factor in:
1. The economy is MUCH weaker than anyone wants to admit.
2. The politicians in Washington (and all across America) don't understand a thing about economics

Conclusion: We may be setting up for a horrible fall and winter in the market. Nobody wants to talk about it, but there is no guarantee at all that we don't go below 666 on the S&P 500. I am not saying that it will be a rational move, but it sure can happen. From a political standpoint, I think this sets up the Republicans to take over some key governorships, and the U.S. Senate in 2010.

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