This unemployment report is going to inspire the Administration to come up with more stimulus plans and more general spending. The total cost of the Obama-Bernanke plan to halt or reverse this bear market is becoming bizarre or fantastic. I warned that the primary trend of the stock market cannot be halted. Now we are seeing some of the fearful results of Obama's and Bernanke's ignorance. It shows you what can happen when professors face the real world. Yes, Obama and Bernanke were both professors.

The Dollar Index was up. Despite the surging dollar, August gold closed up 7.70 to 1217.70. You just can't keep a good currency down. Gold is looking ahead to the slow demise of the Yankee Dollar.

What can the administration do? I know what I'd do. I'd boost the price of gold high enough so that all our Fed Notes would be backed by gold. That would make the dollar "as good as gold." But problem -- do we really have the gold? The last time the US gold holdings were checked and audited was in 1954. What if we don't have the gold? Simple, we're broke, and the Fed Notes aren't worth a thing. Wait, we can always sell our creditors our beach property and our buildings -- and our corporations. If America goes broke, the whole nation will be up for sale.

My note: Richard Russel is about as main stream as one can get. His analysis and opinions are in every financial house in the US ans many overseas. This type of thinking is spreading!