Atlanta's Fed...Lockhart's comments

Lockhart said that the U.S. is in the midst of a "very painful adjustment process," pointing to continued job market losses, a weakening manufacturing sector, sharply declining consumer spending and a still weak housing market. Deterioration in the housing market, personal consumption and employment should continue he said, with "very weak growth" likely through much of 2009. The current or next one or two quarters though may be "as bad as it gets," he said.

Wow…that sounds familiar. George are you sending my emails to Lockhart now? First Buffett…then Cramer….now Lockhart.