For auto prices, housing prices, and all other big ticket items that usually require financing....they have a long way to go..."down".... Under what premise would vehicles sell at similar prices to that of 2007,2008 ? Under what premise would houses sell at similar prices to 2006, 2007 ? Under what premise would big ticket tangibles sell at 2006,2007 prices ? .............................................................................................. Thus what does this suggest about earnings both currently, and in the future ? ........................................................................................... At what multiple do stocks sell when confidence is low as are real earnings ? .......................................................................................... The supposed excess foreign funds are no longer in excess.... ........................................................................................... The FED has no foreign source to fulfill its future financial demands .... ........................................................................................ Thus what are appropriate auto....housing price levels ? $15,000 Auto $100,000 House ???? .......................................................................................... What is the outlook for FED revenues with an increasing progressive rate ? 25% ? 50% ? ...................................................................................... What % of current revenues should be expected in the future ? ...................................................................................... The point being is that the US is at a crossroads.... a) Make government bigger....and thus render the US economy broken for many decades.... b) Make government much smaller....change the tax structure to a 10% consumption tax only....thus enabling the US to have a financial future....albeit the near term left in turmoil....
No bottoms until everything hits 2002 levels and less. http://www.elitetrader.com/vb/showthread.php?s=&postid=2395692#post2395692
Only the start, only the start. The ball is gaining momentum again. http://www.stamfordadvocate.com/norwalkadvocate/ci_12185579
Little birdie tells me that the big HF boys in Fairfield County been trying to sell their $37 million dollar yachts, but no takers.
People have been suffering from Stuffitis and Affluenza way too long and they are finally waking up and retaking their lives back. Even those who got it $$$, find it isn't chic to show it anymore.
Madoff has unfortunately sparked a new wave of anti-semitic tones and his wrongdoings will be felt in many more ways.
Little birdie lawyer friend tells me they can't keep up with the commercial defaults that are occurring and momemtum keeps building.