The great overreach continues…there’s so much noise in the financial markets, one can barely think straight. Housing slump may exceed the Great Depression…the profit parade in commodities marches on. We pity the next president…the subprime debacle has produced a tsunami of lawsuits…and more!

Citigroup reports $5.1 billion dollar quarterly loss, and that’s the good news. Bush warned to start defending the buck.

The key to making money in oil stocks this year…Is to sell ‘em. That’s right. The editor of an oil-stock advisory is telling you to sell oil stocks. But before you decide I’m committing professional suicide, realize that selling is how you realize profits in any stock, aside from blue chips you plan on keeping forever.

European interest rate decisions due today. In the currency market, the dollar eased against the euro. Late Wednesday, the euro was trading at $1.5756 vs. $1.5731 on Tuesday.

On January 9, 2006, shares of homebuilder Beazer Homes closed at $80.95. Exactly two years later, on January 9, 2008, the shares closed at $4.99 a fall of 94%. “They’ve fallen that much, eh?” legendary speculator Doug Casey said last week at our private gathering on Jekyll Island.

Last Thursday, Fed Chairman Ben Bernanke went before the Senate Banking Committee and defended the decision to bailout Bear Stearns. Banking Committee members wanted to know if it was done to protect the financial system or if it was a bailout at the taxpayers’ expense.

There’s no question that gold has been on a very impressive streak, but with the recent fall under $900, is the bull run over?Let me give you three reasons why gold is still a golden buy,cheesy phrase, I know, but very appropriate.

The March job report is expected to bring grim tidings about the health of the US economy.

The consensus on Wall Street is for nonfarm payrolls in March to fall by roughly 60,000 jobs. This will raise the unemployment rate from 4.8% to 5%.

Already, the private sector has shed jobs for four consecutive months, led by losses in manufacturing and construction.

Fed chief and Wall Street white knight Ben Bernanke has spooked investors by uttering the dreaded ‘R’ word.

Although he denied that the US economy is in a recession, speaking before a congressional committee yesterday he admitted that a “recession is possible” in the US.

He also said that the US economy could shrink over the first half of this year.