Did you see the Russell screenshot I posted some time ago and told people it will be a sign of things to come?
Nice rebound. I still think the dow should be at 13,000. Maybe it will kase a year or so, but dow 13,000 or 14,000 is def. in the cards within the next 15 months. No good reason for any of the selling.
A lot of things changed, starting with Lehman being bankrupt, merrill being bought, wachovia being bought, wamu being bought, AIG being nationalized, stakes bought by the government in banks, CREDIT CARD comapanies CUTTING CREDIT LIMITS and not extending credit, etc. You are either a comic or you are hopelessly stupid.
I know he says some crazy things, but in his defense he said "average consumers are not affected". I think this is true from a consumer point of view. The only thing that I see personally from my family is that people are holding off on purchases and companies are holding off on hiring. But I think for the average person it's really not a big deal.