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Insane bullishness. There is a panic to buy equities. Bearishness and the depression were forgotten in a week! Look at the equity put/call ratio. It is at a level recently associated with short term tops.

Astonishing - scenes from the recession:

What do these four pictures have in common: they describe completely broken sectors of the economy - housing, autos, and retail.

Have you heard any plans to fix the auto industry? Not prop it up, but figure out how many cars a non-bubble economy needs annually, and then figure out an economical way to produce that quantity?

Source: Four Takes on a Broken Economy