All this week, we’ve been sounding the alarm of the so-called economic “green shoots.” These have now been exposed as being pure propaganda designed to lure investors back into stocks and to allow banks to recapitalize through share issuances at artificially elevated prices.

“You’ve got to try the crab cakes,” I told Steve McDonald. “I live in Baltimore. Why the hell would I come to Florida for crab cakes?”  We had just concluded a full day of meetings for the Investor’s Daily Edge quarterly editors’ conference and were taking our seats around the table at Dada, one of the finer establishments in Delray Beach.

By the time investors read this today (Monday), embattled U.S. automaker General Motors Corp. (NYSE: GM) Motors Corp. could be operating under the protection of the U.S. bankruptcy code, a strategic move made in an effort to transform the once-dominant firm into a leaner and more competitive player.

Commercial real estate at risk of default has quadrupled, according to a recent article in the Financial Times. It was only a matter of time before the consumer spending implosion destroyed the unsustainable increase in storefronts across America.

What’s that hiss? Bond sales break record, but “investors” demand higher yields…U.S. budget deficit sets annual record… in just 4 months! Key trading signals from one of our resident options analysts… Data still disappoint… housing, jobs, retail improve slightly, but still in the dumps… Last, Dubai in danger… foreigners flee so hurriedly they’re leaving cars behind…

Sometimes you have to just stand back and admire the extremes a real bubble can produce. What you have now, as Bill explained last night at the Doomer’s Ball, is the last greatest bubble of them all, the bubble in U.S. bonds. It’s reaching staggering levels.

I assume that bond buyers are all drug addicts who are not aware of what they are doing, morons who are not aware of what they are doing, or grubby slicksters who are buying them on behalf of drug addicts and morons! Hahaha!