"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey

Well, my concerns expressed in the weekly briefing have now become a reality. I really hoped that the latest "Pimp" to run the U.S. Treasury- Timothy Geithner, would have announced the suspension of the “mark-to-market” accounting rules that are hampering our financial institutions. This did not happen.

I don't know what these idiots are thinking other than trying to inflict as much pain as possible on the economy and financial markets. After Goldman Sachs CEO, Lloyd Blankfein said "the financial industry shouldn’t abandon the “mark-to-market” accounting rules," I had a hunch that the rule would not be abandoned.

I called Geithner a pimp because he was once employed by Henry Kissinger at Kissinger and Associates in Washington, D.C. If you follow the Bilderbergers and New World Order gang you'll see that Kissinger is a pimp himself for David Rockefeller's various tentacles.

I don't like harping on this issue, so you'll need to click around above and open your eyes to what is going on behind the scenes.

By temporarily abandoning the mark-to-market rules, it will free up banks to lend and the temporary fluctuations will no longer force banks to claim insolvency. It's just common sense.

The only reason I can see for not temporarily suspending mark-to-market is someone behind the scenes wants to see chaos continue in the financial markets. I cannot see any other reason than that. Any other reason would be shear stupidity.

Under normal circumstances, the stock market would be undervalued. Since no one has come up with a viable solution (or won't allow one) for fixing the current crisis, there is no telling if the market is undervalued or not. If the economy gets much, much, worse, then obviously the markets are not as undervalued as you might think.

This being said, the stock market can overshoot on the downside just as it does on the upside. When there is no clear light at the end of the tunnel, markets will eventually overshoot on the downside.

In 2002, the over shooting on the downside result in an October 2002 low of 7,282 on the Dow. In April of 1997, the Dow overshot to 6358. Given the magnitude and severity of the current condition, I would not rule out a decline back to these levels.

As far as the S&P 500 is concerned, and final capitulation low can pierce the November 2008 low of 741 which opens the door for a final "puke phase" which could register in the mid 600's.

Yes, I realize all this is awful news, but we have some awful people, who have done some awful things, making awful decisions.

For now, the "Pimps" are in charge, and when they lack details on specific costs, risks, and details, eventually you will catch something that will become a full-blown disease.