Economic Correction?

With consumers now making up more than 75% of the United States economy and CPI well up today, allied with the ongoing housing price implosion, there are plenty of ingredients for a major correction.



Ingredient #1. Bank Failure:



Several banks are likely to post terrible results in the coming months, the likes of Wachovia and perhaps Lehman, have horrible exposures to assets that hold little or no value at this point.



Here's the chart --



http://www.marketwatch.com/tools/quotes/intchart.asp?symb=WB&sid=831481&dist=TQP_Nav_chart

Ingredient #2. Inflation continuing to increase.

Anyway that's that for today!