Investing
Kass: Permabulls Wrong
01/04/08 - 10:04 AM EST
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.
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