The true Idiots are the people (the majority of fools on ET) who voted for OBAMA.
Simple fact, surprise!!!!! They are getting what they asked for.
Simple fact, the Rich will continue to get richer, the Middle Class was sold out by OBAMA and the Markets, loss of confidence will cause it to go sideways for a decade.
The economy, IMHO has a bit more pain but we are close to the end.....12/13% unemployment should be reached by Summer (carter year numbers). Other than that, the economy will be negitive for a few quarter then push to a small positive number by 2010. or so. IMHO.
This will be the decade that 401k's were destoryed, market will not get buyers in the "Manic" sense and we will slowly recover.
Those unemployed, will stay unemployed and a bunch more "PUBLIC COMPANIES" will be laying off next quarter.
But, I do believe we are getting close to PANIC mode, that will flush the system out and put in the bottom for the Economy & Markets....