Another guy that's pissed because he can foretell the future. Short the stock market in size, and go on to make your fortune.
great points jem! I would consider the excessive spending on current pork out of washington probably one of the biggest problems right now. We are our own worst enemy. Big government = BIG SPENDING, and republicans have proven they can spend with the best of them. I remember when I could buy Euro's for .90 on the dollar. Big multinationals were hurting and domestic based tech was booming and starting to expand worldwide. Now tech has also moved offshore (Intel plants in Ireland and India etc...) and become multis along with the likes of 3M and GE etc... My point, weak dollar isn't always a bad thing, but a weak dollar with out of control government spending, now we have a problem.
Stock market: It's not overvalued at current level, where PE of SP 500 is below 20. Housing: Although bubble only exists in some regions, the impact of bubble burst could spread to rest of the country. Will that cause a recession? Dollar: The government has to balance the budget at some point, as we approach the borrowing limit. It's interesting to see what politicians would do after Bush's term, deficit should be a hot topic in the next election.
If just a small piece of below proves true, a fortune would lie within it. That's the allure of it. Whether true or not -- or which piece may prove true -- that's another matter entirely.
This doom and gloom stuff goes on decade in and decade out. It might happen eventually but so what? If you are a trader and you are on the right side of the market, you win big. I had relatives that started building a portfolio of real estate in 1932, they were extremely wealthy when it was all over. People that grew up in Russia tell me that all their lives they were told that capitalism was going to collapse, or had already collapsed, or was collapsing. That is why things changed so quickly at Glasnost time, they were allowed to look around and see the prosperity. Check your sources and take things with a grain of salt. There still is a communist movement, Venezuala, North Korea, Vietnam, Cuba and even in a Central American state or two. It has been beaten down to the point where it can be ignored really, but some of this doom and gloom could be coming from them. There was a guy named Gary North that was responsible for a lot of the Y2K hysteria, it turns out he has always WANTED the collapse of the west, he thinks people are too materialistic for their spiritual good.
I have a question, why do some many traders here on ET feel so negative about taking about shorts or shorting.. everyday, wk, month - all stocks go both long and short.. it is a part and a needed part of our business.. being either just a bull or bear, you lose out on so many good safe (if you can say that) trades..even if over all you are holding long position trades trading creates profit..both being long and short w
Americans dance to their own music, they could care less about debt, money supply or personal circumstance, it's survival of the fittest in the country and you either keep up or get run over. That being said I see a recession soon and a flush of the system. $1000.00 Gold within 3 years
Sounds about right. Its usually the people who DON'T own Real Estate (ie missed out) or werent or arent long stocks in a bull market. They begin saying Doom and Gloom, but really the are miserable they made no money. Then they delude themselves and begin to distort reality around what they hope for. That is that everyone that profited has to give it back, because the Doom and Gloomer missed out.