From Richard Russell in Dow Theory Letters:

[Last Friday's] unemployment report is going to inspire the Administration to come up with more stimulus plans and more general spending. The total cost of the Obama-Bernanke plan to halt or reverse this bear market is becoming bizarre or fantastic.

I warned that the primary trend of the stock market cannot be halted. Now we are seeing some of the fearful results of Obama's and Bernanke's ignorance. It shows you what can happen when professors face the real world. Yes, Obama and Bernanke were both professors.

Crux Note: Learn more about the excellent Dow Theory Letters here.

More from Richard Russell:

Richard Russell: The bear market is coming

Richard Russell: Don't be fooled by bear market rallies

Richard Russell: "This market has nowhere to go but down"