The new job data is out and it was so bad it caused a 300+ point drop in the Dow Jones. The market is now down over 10% since late April. Robert Reich is now saying what I thought would happen: we are headed into a double dip recession. Basically, only 431,000 jobs were created, but that itself is very deceiving.

The SEC may also want to investigate the Plunge Protection Team, or the President’s Working Group on Financial Markets. The group was established after the stock market crash in 1987 to make legislative and private sector recommendations. The Plunge Protection Team, a term first used by The Washington Post in 1997, is a “conspiracy theory” that the Working Group on Financial Markets uses government funds to buy stocks in the event of a crash to avoid a panic.

What is going on is actually rather simple. Big corporations have done what they love to do with big government; get in bed together. Unfortunately, it’s us, as the common taxpayers, who will have to foot the bill for this love affair.

Not so fast there slick. Up and down swings are extremely common, recession or not. Bear market rallies were actually quite common in the Great Depression.

The May numbers are out and the United States lost over 500,000 jobs last month. The Dow Jones may have rebounded some, but every liberal, and most conservatives, will tell you that just affects those evil rich people. Average folks are still losing their jobs despite bailout after stimulus after bailout, etc.

We fell right into our enemy’s plan. We executed it to a “T”. Osama Bin Laden knew very well he couldn’t defeat the United States militarily. What he did know was that he could get us stuck in the Middle East, throwing money away fighting endless insurgencies.