you would think after a 50% 2 year bear market, an october like we had, new lows, there would be talk of a depression, but there isn't... even though the conditions, response, and move toward socialism are exactly the same, hardly anyone is even considering a depression as a possibility. one caveat is that we haven't officially started a trade war with china yet (something equivalent Smoot Hawley Tarriff act), but we've even fired the first bullet with currency manipulation charges and bailing out the automakers. note: (obama cosponsored a bill that would have placed a 27% import tax on chinese goods if china did not devalue the dollar vs the yuan, so a trade war is more than a remote possibility) it must be an incredible faith obama is the only thing i can think of, or it happened too quickly? it's utterly stunning much faith people have in the government to solve all their problems, when they have always been, and always will be (as long as they control credit), the source of bubbles and the resulting collapse, not the solution. perhaps when the inevitable government/sovereign debt defaults and currency crises' begin (iceland notwithstanding) capitulation will happen.
Definitely noticed the more bearish sentiment today vs. just about any other day. May have had something to do with the thrashing the network received from Jon Stewart last night (Wed 3/4). http://www.hulu.com/the-daily-show-with-jon-stewart Everyone bearish at this point; get ready for the bounce.
We've got many of the CNBC cast on the bear wagon, now Stock_Tr8er. I'm waiting for the last confirmation of a bottom..... when I see Larry Kudlow, with tears in his eyes, look straight into the camera and tell us that Capitalism has fallen. I'm also patiently awaiting James Cramers return to life in the backseat of his Ford Pinto. When, and only when these things happen, I shall be a bidder at any level (any level below 475 SPX that is).
Are these the ones that burn? Pintos??? They had one, if you hit if from the back, it turned into a Zippo. Is this it?
It looks like these two are about to pull James Cramer's dismembered corpse out of the back of this "death wagon" and bury him in the middle of nowhere. He probably told them to invest the entire amounts of their 401K's in BIDU at the end of 2007. Look at the looks of pure vindication on their faces, they're absolutely beaming! Free at last Jimmy Boy, free at last!!
does Bloomberg TV break news as fast as CNBC? I'm worried about relying on CNBC because seconds count. Don't want to get blindsided by a Gasparino breaking news item that doesn't show up on Bloomberg TV fast enough.