As I said after the first major correction a couple of weeks back...I wouldn’t be surprised if it was a controlled fall in order to force people to demand that Obammie the Commie use that new debt ceiling to pump money into the markets via QE3.
Folks, the fundamentals suck. There is no denying it to anyone who is following what is happening.
Another round of “stimu-less” will spike the markets for a very brief time. After that, look out for free-fall, because we’ve reached the wall in terms of borrow-and spend.
Also, protect your private-retirement accounts.
The governments are going to contract their benefits to the public-sector unions, and in some cases default completely. There will be a round of Greece-style austerity and similar violence in reaction.
After that has occurred and the economy still sucks, Obammie and his Commies WILL come after your private retirement. They will nationalize it to save the unions, their pay and pension and benefits, and they will promise you a higher rate of return when you go to cash it out.
DON’T BELIEVE THEM.
"We, therefore, believe that the market has now entered a major downtrend. It is a mistake to dismiss the slide we’ve seen to date as mindless and devoid of fundamentals as many strategists maintain. These are not just scary headlines—-they are scary fundamentals."
Bernanke may not even be able to do QE3 since there are 3 Fed members who have already voted against him...one more against QE3, and the Bernak will not be able to do anything to prop up the market.
It is a mess...Obama and his merry band of gay blades are a hard headed bunch of bastards...fitting the very definition of insanity...
...doing the same thing over and over but expecting a different result....
..if Zer0 comes back from his "well deserved vacation" (choke)...and gives the same old tax and spend, class warfare speech for his "jobs creation plan".....watch out....-(minus)400 points may just be a good day for the market.
Also, protect your private-retirement accounts.
Any suggestions?