I emailed the fed on numerous occasions before the rate cuts a few months ago. Explaining how and why rate cuts would not help the banks and do nothing but spark massive inflation. Anyone who has actually saved money over the last ten years has been punished for it - losing 1/2 of their real savings to the weak dollar. Rate cuts have not helped the home owner piled under shit - as anything they have saved on avoiding high resets has been gobbled up by higher costs of living. I asked that we simply let time heal the wound and take the pain. Banks and brokers are pushing lows, and now we have rampant higher inflation. O h well I'm just one schmuck with a computer and decided to stop ranting - haven't emailed them in a while (it was getting ridiculous). Makes for interesting times and trading anyway - I just feel bad for the people in my community - fishing economy getting destroyed by high fuel - and any of the poor saps who"bought and held" or seniors who were living off of savings and cd's. Interesting - Greenspan studied bubbles in his schooling and with Greenie we got bubble after bubble after bubble. Bernanke studied the Great Depression.
Thats what they said six months ago. I really do know almost everything. I see things others overlook.
Mr. Market loves to teach painful lessons. He especially loves to halve momo stocks during bear market capitulation selling. Werd!!!
I hate to break this to you guys, but the markets don't crash on bad news, they crash on good news. We get selloffs on bad news. Not that anybody really cares on this site. Just thought I would point that out. As you were...
Worst case scenario, Uncle Smitty will take on all "sub-prime" debt. BOE and European Yo-yos will have to do the same. China was just as the dot com bomb. China will settle out too.
These predictions are useless and are created to generate press. The S&P 500 simply will not fall 300 points by September. Since Jan2008 the S&P has been flat. Its gonna take something monumental and unforeseen to knock it down 300 points.
Considering banks in general haven't done so well lately, I would take this story from a bank with a grain of salt. I think it's a coin flip whether we are higher/lower in Sept.
He'll start a new new new stock trad3r index, telling us all how much he knows about stocks and it is time to buy. He'll say "where is the fake recession, where is all the subprime......"