The market has now fallen apart over the past couple days, because we achieved a shitty deal to try to tackle the deficit, and people are now expecting a downgrade on U.S. debt based on the fact that we spend too much. How much do you guys want to bet that in the coming days Bernanke is going to come out and blow another pile of money on QE3? In order to try to save the market from falling apart due to a credit downgrade, which has been caused because we spend to much money? The market just broke down today, and if we go down another 50 points QE3 is a guarantee. This folks is the definition of a gigantic Keynesian circle jerk. Our new plan for getting out of the mess the debt has caused us will be to blow another trillion to boost the economy to get out of debt, just watch. This is the way government works folks, it is absolutely mind boggling stupidity. I will bump this thread in 2 weeks when QE3 becomes reality, if the market keeps going down.
The economy is faltering because it's widely understood there is no more stimulus coming and the consumer is still broke.
There is no more money left, sorry Ricter, the entire world is broke. All of the Italian banks got halted yesterday, Greece/Italy are facing forced austerity, we can either provide "stimulus" and close our eyes and pretend it wont happen to us, while we turn our dollar into toilet paper, or we can try to do something to fix it now, either way we will end up in the same position as Italy/greece if we continue spending, with no regard, and we give it enough time. Ten years from now we are just as bad as greece.
What i know with absolute certainty is that when it happens with the U.S. it is going to be ten times worse, with the riots in greece they are throwing rocks, in the riots which will come in the U.S. people will be firing off fully automatic guns. It is going to be ten times as violent if we allow it to get to the point of greece, and the dumbasses in the government still dont get it.
Not to speak for Max, but no way that it will be prolonged 10 years...wait until this market goes into the tank again in the near future...
How much do you guys want to bet that in the coming days Bernanke is going to come out and blow another pile of money on QE3? Does Obama need some re-election campaign cash? He's not going to raise a billion dollars without some help from Bernanke.