Bloodbath on Wall Street

The market got crushed today. It managed to stay above 7,000, but we are down to 1997 levels. People need to wake up because our american standard of living is unsustainable, we produce nothing and bring all our goods from the far east. Walmart shoppers, everything says MADE IN CHINA.

How long can we survive when we send all our money overseas? The only thing keeping the Titanic afloat is that China buys up our T-Bills...

Take a look at the 60 day gold chart. Gold is near $1000 and you know that as people panic they will go for the gold. Things are so bad that people are losing their faith in Obama. OK, that is the problem, he does not have a magic wand to fix our financial catastrophe and now more than ever we must face reality.