Bulltards

That is a term coined by Tim Knight in his www.slopeofhope.com blog.

The CNBC chatter that I'm hearing this morning is that today's jobs number-the first negative reading since 2003- is good news because it guarantees a rate cut.

You know Greenspan started cutting rates in 2001, but that didn't help Lucent very much. Bubbles are bubbles, whether or not it's tech valuations, or credit derivative valuations. It's a bubble simply because things got way too expensive and the market needs to reset.

The Fed is irrelevent. They did make the US dollar crater a bit more today. I hope they're proud.