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Cramer: Of Course It's Bad Out There

Stock quotes in this article: POT , PRU , HIG , MET , PFG , CIT , BBY , CC , ETN , APOL , APEI , GLW , AA , APC , RIG , STX , KLAC , JPM , C  

This post appeared earlier today on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

We are in the teeth of it now. You can see it. People are suddenly shocked that Citigroup (C Quote) and "even" JPMorgan (JPM Quote) could have big losses. ARE YOU KIDDING ME? Is anyone really shocked by that?

Looks like tech's not doing well and "even" KLA Tencor's (KLAC Quote) doing badly. Did anyone think that KLAC was having a good quarter? Even an OK one? Executives at Seagate (STX Quote) are dropping like flies. Why would anyone think that the cutthroat disk drive industry would be doing well? Are you nuts? ...

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