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Kass: Permabulls Wrong

01/04/08 - 10:04 AM EST

Doug Kass

With this morning's jobs release, the Perma-Economic Bulls have been totally discredited.

Since I abhor ad hominem attacks I will refrain from listing them on the Edge. But their glib, unrealistic economic chantings of "Goldilocks," and their refusal to recognize the developing economic weakness represents a unique high in dogma.

Stated simply, the Edge and Jim "El Capitan" Cramer were right.

Sorry for ranting, and in no way am I gloating, but I have continually documented why the U.S. is at the door of a recession, and I've taken, like a gentleman, their incomprehensible mantra of optimism.

We are no longer at the door of recession -- the recession is here, and the market is on the brink.

Let's face the music ... and raise cash.




At time of publication, Kass and/or his funds had no positions in the stocks mentioned, although holdings can change at any time.

Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd.


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