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Jeffrey Saut: Hedging Positions in Unprecedented Times

I am tired of hearing that we are in a "bottoming process." That's Wall Street speak for I have no idea what is going on or when it will end. Frankly, I am really angry that we have been screwed by the rating agencies like Moody's and S&P who rated mortgages triple A when they knew they were junk, left unprotected by the bill that Clinton and Greenspan passed that allowed this rape of America to go on, failed by a government that has wasted three years addressing the housing market, concerned about bailout programs that will keep our children and grandchildren in debt for years to come, and a Senate that adds "pork" to the bail out bill and then call it their finest hour. Saving the automobile companies is crazy. If they don't know how to run a business, they should go away. It's called the law of survival of the fittest, not survival of the incompetents. We are in a "humpty dumpty" type disaster and I question whether all of the king's horses and men can put America back together again. Hopefully, Barrack can get things on track because Bush can't even spell recession. We live in a great country, but we have been led by idiots and incompetents posing as geniuses.