if it makes people feel any better, no less than john embry and eric sprott are getting their asses handed to them as well.

http://sprott.com/pricesperformance/...

there are a couple of things i think we should be looking forward to in the coming weeks which i think will offer more cheer:

1. fannie and freddie will most likely need a bailout around the end of the month. they need to generate enough cash to rollover 225B worth of debt and, while not impossible, this seems at best improbable.

2. fdic has set in motion the process of extending its credit line from the treasury and preparing for more bank failures. we've had a period where banks are going under every few weeks. i'm pretty confident this frequency will shorten in the not too distant future. and try as they may to keep things quiet, i don't think the fdic can keep the shutting down of scores of banks off the front page news.

now if we could just get this deflation problem fixed with some good old inflation, we'll be rockin'.