This column was originally published on RealMoney on Oct. 18 at 11:24 a.m. EDT. It's being republished as a bonus for readers.

Lotta "shoot first, ask questions later" plays off this American Standard ( ASD) shocker . As questioner after questioner tried to pin down Fred Poses and company on what went wrong with kitchen and bath in the earnings conference call, you could see the bids disappear for Masco ( MAS) and Fortune Brands ( FO).

Is it really possible that they could be doing better in kitchen and bath and American Standard worse? Is it possible that American Standard lost share?

Frankly, I don't think so. I believe Fred Poses when he says the American consumer is at last crimped and that the buying power has been cut. This is the type of call that the Federal Reserve has to get on. Poses can't raise prices that much without losing share. He's put through three rounds already, and a fourth is coming. Obviously the consumer is not liking the increases, or you wouldn't get such a huge decline in a quarter.

But it's not just American Standard that's at stake here. What does this shortfall say about Lowe's ( LOW) or Home Depot ( HD)? Can you be as bullish about them as you might have been before this? How about Black & Decker ( BDK)? All of these are going to have to deal with the fallout from American Standard's kitchen and bath weakness.

Again, I am shaken by this miss. These guys are good. We are staring at a very big housing slowdown here, for both building and remodeling. This is the tell.

Take action accordingly, in those stocks that haven't already been hammered.

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