Here's a simple 'fact' as to why we'll retest and break the recent lows...

HAHAHAHA!!! Dat's da troof!!

 

yes, this is what all these people just don't understand that its the best time to invest if there is blood on the street.
The current spread between Fed-funds and stock dividend yield is plus 2.3% (dividend yield is now higher than fed funds yield). Last time it was larger than zero we have to go back to 1974. It definitely was a good time to invest long term.
However in 1932, the mother of all lows, it was 18% !!
So we can say that historically it is a good time to buy long term but its no guarantee we have seen the lows.
As ALWAYS, people tend to say that THIS time is different and THIS time its really the end of the financial markets blablabla.
Its always the case you lose a lot of money if you start to think "this time its different".
Lets face it: Banks have sold nearly all their stocks, insurers have sold all their stocks and a lot of mortage hit persons have sold. I can harldy think of anyone who has not yet sold but is intending to do so. Remaining stocks are now in the hand of the brave and a LOT of shit must happen to economy to make them sell. I don't say it can't happen but its highly unlikely. If you don't invest in stock market last week (Brasil, Russia, China etc.) you probably should do something else

 

you cant invest on the fed funds. investment grade bonds are a better indicator, they are yielding 8.6%

 

No more lows. End of selloff. The bad news has already been discounted.

 

Biden's family came from dirt as he claims, and now he could be VP. not bad.

 

Metallica sucks the sweat off a dead man's balls.

 

Nothing new or startling above. Aren't all these priced into the market? After all, why did the market go down 40%?

 

Unless that's a strange complement of some kind (you know, like how at one point "bad" really meant "good"), I would suggest you go put on some David Hasselhoff or Boney M and keep your batshit insane thoughts to yourself before you embarrass yourself further.

 

In Bleak Times, the I.R.S. Looks Good


In Lower Manhattan, the line for an Internal Revenue Service open house began forming an hour before the event and would eventually wrap around the block.

By JAMES BARRON
Published: October 28, 2008

Benjamin Franklin said that nothing in this world is certain except death and taxes. When death is not an option and the world is maximizing the uncertainty, taxes look like an intriguing career alternative.

Or, more precisely, what the Internal Revenue Service calls tax administration.

The I.R.S. dangled the possibilities when it held an open house at the federal office building at 290 Broadway in Lower Manhattan on Tuesday. An hour before the fair was scheduled to begin, the crowd began lining up — recently laid-off Wall Street types in charcoal-gray pinstripe suits and trench coats; less formally dressed people; a woman with a new accounting degree on her résumé and a 14-month-old baby in a stroller.

Before their face-to-face encounters with I.R.S. employees, before they got a chance to hear about the agency’s “work-life balance” and its portable retirement plan, they had to do some waiting. The line for the career fair stretched along Broadway, turned the corner, ran down Reade Street and turned the corner again at Elk Street.

Once the job-seekers reached the lobby, they had to shed their umbrellas and rain gear. Following security guards’ instructions, they also had to remove shoes, belts and watches, and step through a metal detector.


Dave Reinhart gave up a job that required him to spend half of his time on the road. “With the I.R.S., I don’t think you’d have to do that,” he said.

Hope was an elevator ride away, on the 30th floor, where tables had been set up with handouts describing the particulars of different I.R.S. units. Employees of the agency were waiting to talk about their own careers but were not there to offer jobs on the spot. Most prospective applicants said they were told to go home and search a Web site — www.jobs.irs.gov — for positions they might be qualified for, and to apply online.

There were things the job-seekers were mostly mum about, like taxes. The presidential candidates have batted that subject around like a shuttlecock in a badminton game, but no one at the career fair was talking about the I.R.S. as a growth industry.

Kevin Somers, who has done illustrations for test preparation materials and comic books, said he was considering applying to the I.R.S. because the agency had been so nice when his freelance work dried up a few years back and he fell behind on his taxes. “The idea of the I.R.S. being ominous and threatening got turned around in my mind,” he said. “I see the I.R.S. as a way to help people.”

Dave Reinhart, 57, of Pompton Lakes, N.J., said he was interested in becoming a revenue agent — “someone who, as I understand it, reviews tax returns.”

“From what I’ve read about them,” he said, “they’re interested in hiring people in my age group.”

He said he had worked for AT&T and Lucent Technologies, as well as Home Depot, where he was in charge of installers for 43 stores. “I left when they told me I had to spend more than 50 percent of my time on the road, visiting stores,” he said. “With the I.R.S., I don’t think you’d have to do that.”

Some job-seekers said they were casualties of the financial meltdown. Jean Delice had already been laid off as a computer engineering specialist at Lehman Brothers when the firm, as he put it, “hit the rocks.” He said that the firm’s demise had cost him “everything,” including his severance package, and that the long-term prospects of a government agency looked pretty good.

“You could get a lucrative job in the financial market right now, but how long can you keep it?” he asked. “Everywhere I look, I see layoffs. If I take a $10,000 or $20,000 pay cut, in the long run, I’m ahead. The government is not in the trading business. It will be around.”

Warren P. Baker of Westport, Conn., a certified public accountant who worked at Price Waterhouse early in his career, said he had been a lender for JPMorgan Chase until March, when it purchased Bear Stearns, the venerable investment bank that was headed for collapse. Some jobs were soon eliminated, he said, including his.

“The banking sector will improve, but I’m not sure I’m willing to wait,” he said. “There are so many of us in the market. I applied for one job, and they said I was one of 90 applicants.”

He may not be willing to wait for the I.R.S., either. After making the rounds at the job fair, he was off to an interview at Bank of America.