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Getting Out of Today's Bear Market

Right now, we're being punished for the collective stupidity of Alan Greenspan, the big banks, and the average American consumer. Before Bernanke took over the Fed tried to avoid recession by pumping the economy full of cheap money.

American consumers were too dumb to realize the simple fact: you can't spend more than you make over a long period of time and come out ahead. And as many homeowners found out, those ARMs they took out in 2002 and 2003 are beating the crap out of them now.

Our economy is in bad shape - consumers are 70% of it, and they're getting hammered. When you have a currency that's barely worth the paper it's printed on and a country that doesn't manufacture anything anymore, it's little wonder why a financial services collapse will obliterate the market.

I can see oil at $165 by year end and the S&P at 850 by February. There are still millions of foreclosures to come.