Recession is Coming, Still All in cash

I have been in cash all summer. The rally didn't have much legs.  The economy is on wobbly legs. The new unemployment numbers dropped below 400K for the first time.  I just don't see that as sustainable with mass layoffs being announced.  I just don't see the incentive for the large companies that have been busy developing off shore resources to hire producers in the current tax and regulatory environment.  Short of an aggressive debt deal and a repeal of the Obamacare bill I don't see a run until next summer if Romney or a Rick Perry get the Republican nomination.  I believe that will start the end of Obama Rally.  The end of the anti-capitalist regime in Washington will be the signal to buy!  Once the recession sets in and another 10-20% dip in the market I will be back in no matter what. Obama will be a lame duck at that point.  See Jimmy Carter, George HW Bush. No way he can blame it on Dubya!