I think so!

- Mortgage rates rising, at 5.85% for a 30 year fixed
- Nonborrowed bank reserves now at -111,855,000,000 as of May 21st!!! http://www.federalreserve.gov/relea...ist/h3hist4.txt
- BANKS ARE BROKE!! THEY ARE ILLIQUID, ONLY THING SAVING THEM IS THE FED.
- Home sales still on the decline
- Record supply of single family homes
- Banks still not lending to consumers
- Oil near all time highs
- Banks trading at all time lows
- Real rate of inflation near double digits (? probably)
- Gasoline above $4.00 a gallon for regular unleaded
- Diesel fuel up to $5.00 a gallon
- Consumer confidence at 12 year low
- Take out commodities backed companies and earnings are down 20%+
- Unemployment projected on the increase
- Dollar still near all time lows (Yippee we have gained .03 on the Euro.... lets have a party all our problems are fixed)


Oh yeah, this is already priced into the market. lol

We are trading only ~5% off for the year!

What else do you have to read to see this is not a healthy environment?