I am more convinced than ever that a major recession is coming. The closing price of crude oil set an all time high Friday of $56.72. The economy is slowing and interest rates continue to rise. Soon the housing market will pop which is what has been supporting the economy for quite a long time now. All the major indexes are down for the year, with the Nasdaq being down the most. Inflation is being controlled somewhat by all the cheap goods from China and abroad but gasoline and medical costs, as well as education costs, continue upwards. There is a lot of talk about a national sales tax with the Republicans pushing hard for it. Of course it's unfair to the poor but they don't care. They have done nothing but pass legislation favoring the wealthy for the last 5 years. Bush's tax cuts, the push to privatize Social Security, and now this national sales tax have made the richest americans just that much richer. It should be a national disgrace but the Republicans have no pride. My warning to all is to get out of US stocks while you can. A big crash is coming soon. All for now.