Double Dip Decimation

Add Carl Icann to the list of financial players who are warning of a second recession on the horizon.

"I think that you have to be cautious. It's on a precipice right now and it could really go either way," he said.

Icahn warned against seeing the recent stock rally as a sign that the economy has turned a corner.

"It's a myth to say the market is a good indicator of the economy. I think individuals are much more of an indictor," he said.

"The market is schizophrenic at this point. So you have trillions of dollars literally in consumers hands, they don't want to spend it, they're afraid to spend it," he added.

The Clap Harder Theory Of Financial Recovery isn't going to work for much longer, guys. Gold keeps pushing new highs as the dollar continues to slide, and that will eventually cause serious damage to our economy, and soon.

Don't believe the hype in the long term.