“The markets might be at six-year lows, however the prospects of getting a job are at lifetime lows.” - BLOOMBERG

Why so serious? Plenty of reasons. See below for the state of the economy...

clipped from www.bloomberg.com “The market has been having another panic attack,” Richard Weiss, who oversees about $50 billion as chief investment officer at City National Bank in Beverly Hills, California, said in a Bloomberg Television interview. “Ultimately, we’re going to be seeing some of the buys of the century in equities likely this year, but maybe it’s a little too early right now.” Deere, the world’s largest maker of farm equipment, slid 20 percent to $28.89 and Caterpillar, the biggest maker of earthmoving machines, lost 14 percent $26.66. The Fed Bank of New York’s general economic index slid to minus 34.7, the lowest level since records began in 2001, from minus 22.2 percent in January. A gauge of homebuilders in S&P indexes dropped 16 percent. Hovnanian Enterprises Inc., New Jersey’s largest homebuilder, had the steepest decline, losing 42 percent to 88 cents. Wal-Mart Stores Inc. was the only stock to advance among 30 in the Dow average, rising 7.5 percent to $50.02.