All the readers of this blog have been prepared for is to have their accounts continually raped and pillaged by the longs.

For now, while the market interprets every data point as a reason to squeeze short-sellers, the blind optimists can get away with it. When oil spikes over $70, Israel invades Gaza, and subrime MBS or CDOs or CLOs melt through the artificial HF safety-net in place, watch out.

But, who am I kidding? Even if the above happens, somehow the financial syndicate will manage to press forward and juice the markets higher. As BR and others have said, it’s going to take something big, something completely unforeseen to bring about any sort of risk-recogition. Why does it always have to be this way? It’s as if no one remembers any market carnage at all.

The fall my father had in ’87 is all the caution I need: when we reach the brink, I’m sure the readers of this blog will have long been prepared.

btw Barry it was pretty funny when Wendell Perkins agreed with you and Herb about housing. I thought Kudlow was going to fall off his chair.

Kudlow, John Rutledge, Wendell Perkins, and Elizabeth MacDonald are all rampaging Bulls . . . .