-- CNN MoneyDon't you just love that "despite"? I mean, you'd think that CNN could afford to hire headline writers who knew something -- anything -- about economics, so that the headline might read:
Obamanomics causes stock slumpWhat almost nobody seems to realize is that we're passing 7,500 en route to 6,000. This is not temporary "profit-taking," but permanent loss-taking -- the de-capitalization of Wall Street, as the smart money pulls out of U.S. stocks before we go from very bad to much worse. And if you think the stock market is scary, just wait until the bond market comes down with the heeby-jeebies. Get ready for Weimar America, people.
If I had one word of advice, it would be: SELL. And if you asked me for two words of advice, I'd say: SELL NOW.