UH-OH: THE GLOBAL PANIC SELL-OFF SNOW-BALLING!

JAPAN IS ALREADY OFF MORE THAN 4% ON FRIDAY MORNING!

DITTO AUSTRALIA!

AND HERE'S AN INTERESTING COMMENT/ANALYSIS:

I can’t tell you how many people tried to get me to buy today. The fact that I ignored them is the only reason I still have ten fingers, as catching a falling knife did not appeal.

If you believe that this is just a correction in a bull market, then this is a fantastic place to buy, and the rout will be over in a few days.

If, in fact, the next recession has already begun, then we have just seen the first 12% of a 50% move down that will last three years.

3 YEARS. NOPE. IT WILL ONLY LAST UNTIL WE ELECT A NEW POTUS.

AND A GOP SENATE.

THAT'S JUST TWO YEARS. GULP.

THE SAD AND TERRIFYING THING IS: I DON'T THINK WE WILL LAST THAT LONG.

UPDATE: IT'S NOT A SELL-OFF. IT'S AN "OBAMA RALLY!" ONE WE ON THE RIGHT ALL PREDICTED.

AND DEPICTED: