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Crete especially.

Cat Stevens spent time living in a cave there.

Meanwhile, shamelessly ripped off from Mishedlo's board, a link to a threateningly bullish Richard Russell.

Sheesh... criminy! Makes me want to grab my acoustic guitar and break out into song:

Now I've been smiling lately, thinking about the good things to come
And I believe it could be, something good has begun

Oh peace train sounding louder
Glide on the peace train
Come on now peace train
Yes, peace train holy roller

Everyone jump upon the peace train
Come on now peace train

Get your bags together, go bring your good friends too
Cause it's getting nearer, it soon will be with you

Now come and join the living, it's not so far from you
And it's getting nearer, soon it will all be true...

If I understand the script, and I don't pretend to, this supercycle bear market is supposed to destroy everything before it's finished. So, we are not in the "Destory-the-Premature-Bears" stage. As Warren observed this morning, or was it Jaz, the bears have been rounded up, taken out back, and shot one-by-one, like Polish officers near the Soviet border in '45.


Now that I've lost everything to you
You say you wanna start something new

So, we get a nice little run from the pit of despair. Hunky-dorey: everything's cool again! Then... just when the bulls are all happy and sappy and complacent with the good ol' return of the Good ol' Days, the partisan Market will abruptly switch sides, round up the bulls, take 'em out 'round the same back, and shoot all them dead:


And if I ever lose my hands, lose my plough, lose my land,
Oh if I ever lose my hands, Oh if.... I won't have to work no more.
And if I ever lose my eyes, if my colours all run dry,
Yes if I ever lose my eyes, Oh if.... I won't have to cry no more

2007: that's the year Russell tosses out as when this final bear cycle will have had its fill of happy campers and their pic-a-nic baskets. 2007: five years away. Five years.

I'm beat, I'm torn
Shattered and tossed and worn
Too shocking to see
Too shocking to see

Oh trouble move from me
I have paid my debt
Now won't you leave me in my misery

Oh trouble please be kind
I don't want no fight
And I haven't got a lot of time

Happy weekend,

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