I have the utmost respect for the U.S. presidency.  I really do.

But when the White House says that housing will reverse course in the second half, or the President says, “U.S. financial markets are ‘strong and solid’”, you have to wonder what color the sky is in their world.

As my buddy Todd tells me, that ‘strong and solid’ economy is evidenced by nearly every banking stock in America setting new multi-year lows.

Here’s hoping the plunge protection team and / or the Fed can dig us out of our current economic hole… again, at the cost of the dollar and the consumer.