Aackkk!

I made the mistake of flipping on CNN when I sat down to a late lunch.

BAD NEWS!! I mean, ba-a-a-d news.

The Dow is in freefall, marking the second largest drop this year, and is hovering right now at around -331.95, give or take a few lifetime retirement savings.

Why, you ask? The herd has been panicked, spooked by a parade of bad omens:

• The day opened with the latest unemployment figures, up to 5.5%. (This has always been a bitter amusement to me. I think the real number must be at least double when you count people who've given up and dropped off the radar.)
• An anonymous Israeli official was reported to say that an attack on Iran was "inevitable".
• A report from Morgan Stanley predicted a surge in oil to $150/bbl by July 4.
• And in response to those grim scenarios, the price of Light Sweet Crude took off like a rocket, hitting a high of $139.01/bbl -- an increase of more than $10/bbl since yesterday.

All I can say is, "Thank you, George W. Bush. Your legacy is assured. You have done more to destabilize the entire world than anyone since the Axis."