A Genuine Panic & Obama Is Clueless

If genuine mass panic signals a bottom in equity prices, then this is shaping up to be a great buying opportunity. The Vix index has only been higher twice in history: during the peak of the Lehman crisis/financial panic in Oct. '08, and during the great market crash of Oct. '87. The combination of a very high Vix (panic) and a very low Treasury yield (recession/depression fears) has only been worse during the Lehman/financial crisis. This might not be the exact bottom, but we must be getting pretty close.