Seriously. Housing values still dropping, 401(k) and retirement funds decimated, retail sales worse than they were in the early 80s and getting worse, car sales absolutely anemic, banks in serious trouble (Paulson warned quietly yesterday to expect more bank failures), commodities plunging due to true demand destruction, government laying off employees at state and local levels as well as cutting budgets and floating more high interest debt, bank lending frozen for both consumers and business, corporations paying record yields to float short term paper, yields on savings accounts and cd's and treasuries incredibly low, consumer confidence absolutely in the toilet, fast rising inventories of durable goods and all things wholesale and retail, massive, inefficient government deficit spending, and most importantly - JOB LOSSES and ACCELERATING JOB LOSSES! I'm not pessimistic. I'm a realist. There is a difference. You think it's bad now? You think we're close to capitulation? You have people salivating over the fact that we're at or near a bottom everyday here and everywhere. There is nothing to be optimistic about now, with the exception that there will be a true crash, even though we're not even remotely close yet, and for those of you who have liquidity and are willing to have a very long term horizon, you will see opportunities in both bonds and stocks if you can shake off the yoke of the true, massive gloom that is capitulation when it does finally arrive - on its own time table, not yours.