Seriously, I’m not etching any of my predictions in stone. Should the economic data change, I will adjust my position. However, a certain tv personality is getting on my fucking nerves with grandiose calls of a “market bottom,” just because the Fed is cutting rates.
WTF?
First of all, he needs to quit comparing this environment to 1990. It’s not the same. The losses are much greater.
Secondly, will someone inform him that corporate profits dictate the direction of the market, not the lack of “Armageddon” in our nation’s financial system?
Thanks.
I mean, just because [[WM]] and [[C]] may stick around for the next 10 years doesn’t mean their stock prices will go up.
More craziness.
Despite the rates cuts, credit is tight. In addition to that, our consumer based economy is tapped the fuck out. Don’t believe me, take a look at the companies who do big business in the U.S. Then, look at their stock prices. Not too pretty, is it?
Suggesting stock prices can keep marching higher, because China and India are growing fast is inane. At some point, the world’s largest economy has to count. Keep on thinking it’s ok to deplete the economy of high paying manufacturing jobs, in exchange for service crap; see where it gets you.
Bottom line: After the 2000 blow-up, it took almost 3 years for the market to bottom, despite Greenspan dropping rates to a shocking 1%. Don’t listen to coked out asshats who declare market bottoms, following two tough weeks of declines. Instead, listen to anonymous bloggers, who claim to have access to time machines, and other types of “space alien magician” technologies.
[youtube:http://www.youtube.com/watch?v=NVeBzkVgaik 450 300] [youtube:http://www.youtube.com/watch?v=2F-As0q-73M&feature=related 450 300]Boo-Yah!
NOTE: Before calling a bottom, watch this clip. Hat tip GreenWriter.
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