Yeah, that makes me very nervous. I’ve been reading Doug Noland’s bulletins for years, and while he has always been very, very bearish, this is new territory for him as far as I can recall. I don’t believe he has ever said the credit bubble has popped. What makes me even more nervous is scanning both web and mainstream media today and seeing some really dire predictions. Monday and Tuesday should be interesting… and will Bernanke weigh in at some point? I’m guessing probably not, at least until there has been a market drop over 10%. Realistically, he probably should let this correction run its course. But while I’ve felt for quite a while that we were overdue for a correction at some point, this is a harbinger of something much worse. Watching the news…