Stocks extend slide!
When I finished working on this yesterday Dow was at its lowest in 6 years then during the night I hears it was now at its lowest point since 1997 and waking up I heard the 14th Bank this year just closed. I said this is long expected post Bush, at Dow 7,000 start worrying! Well it is coming quick, be prepared! Stocks extend slide
You know! I have been long concerned about the economy but I could never get anyone to take my warnings seriously. When Bush was first elected we were at Dow 10587! The Dow went down to the low 7000s. I was comfortable with that as except for the 9/11 crisis there were no serious problems with our economy. That was until Bush started gaming the economy and via Allen Greenspan lying and inflating the Dow and our economy!
When we went back up to Dow 9000 I started getting peeved and very concerned. it made no rhyme or reason and the economy and Dow kept going up inexplicably. It made no sense! It just kept climbing nonsensically! When it hit Dow 10000 I was flummoxed and nonplussed. I couldn't believe it and associates were getting angry at my angst. It was all part of the lie we are living today!
It kept skyrocketing! Dow 11000, Dow 12000, and I thought what the hell is wrong here. Greenspan kept saying everything was great and Greenspan kept screwing with the financial market and people who were not qualified and could not pay back a loan were given them. I thought this surely had to be the end. Nope it went to Dow 13000 and I was panicked when it went to Dow 14000. At that point I figured that was it and this house of cards was going to start crashing.
It went all the way to the sickening height of 14164! When it was at Dow 14000 I started to forecast that it would go back to Dow 10000 and then continue down from there. It was obvious Bush would continue lying and bailing out hid mess until he was out of office. The bailouts did nothing as expected but they continue and only get larger. People started ridiculing me saying are you telling me to get out of the stock market? It kept going up and down as it does and as was expected but some of us knew that when the lie we were calling a successful economy came to light we would be in serious trouble and it wouldn't continue down as it should!
I am sick of listening to the so called experts wonder what is going on saying no one expected this. Hell man there are no friggen surprises here. This was designed to come to fruition on the Democrats watch and it is! I keep hearing those on the right say it is Obama's fault. It is because he is the President, a Democrat. It is because he is President but not his doing. It was set to fall on Democrat's watch. He is just the unlucky or lucky President depending on how you look at it.
Yesterday we hit a six year low and I was lucky enough to have some friends over yesterday who were thanking me because they did pull out at Dow 10000! I said congratulations just keep an eye on it because it will continue to get much worse. Obama's Bailouts will put some to work and start rebuilding our failing infrastructure but in the long run it will do nothing but further the bankrupting of America!
Right now I am hearing we are flirting with the lows during the last bear market. At last check the Dow was at 7269 and at the title of this post I said you can start worrying when it his Dow 7000. This is starting to go down so fast it will be here before you know it. Despite President Obama's good intentions and heroic efforts I have for a while that it would progress downward from there. I am sorry to keep saying this is just beginning and once again we are bringing the entire world down with us. After yesterdays conversation involving the Muslim idea that the battle for End of Days would take place in and around the Swat valley and the Pakistan Afghanistan Border I am very concerned.
Remember! The New Deal did work during the Great Depression but it was WW2 that put an end to it! The fact that what is happening today bothers me because it is called the perfect storm. It is but it is the perfect manufactured storm. The economy is going south perfectly. I have been saying for years that the worsening economy is happening so needed soldiers would jump into the military to keep the war machine fed and they are!
It really bothers me that after this obvious set up and complicit behavior from both sides we keep hearing and I just heard that ass Pelosi say again that the American people are feeling a great deal of pain. No kidding, You the Politician's caused our pain. You continue to get on and blame Wall street but this is your fault. You are supposed to be overseeing Wall street! You are supposed to be our watch dogs our champions not Wall street! It is too late to make believe you are concerned now. Both sides of the aisle showed us they were not and even President Obama did not matter only the party's. Obama as you are seeing id on his own! The big thing to be concerned about is this is all just beginning!
James Joiner
Gardner, Ma
www.anaveragepatriot.com
16 comments:
You are right - I share the same concern. My husband took a look at the really long-term picture of the DJ Index, back to 1900 - got it off of Yahoo Finance in the form of a line graph. The DJ stayed in the same general area for the entire century until 1985 when it inexplicably began to rise. It peaked in 2007 and then began to tumble.
But the scary thing is, if you run a line along the trend from the earlier part of the 1900s, and make the assumption that that is what the real value of the market is before they began gambling on the stock markets, the low might be as low as 2000.
i expect to be on the barter system soon :) i know what you mean though. the 'experts' are smoke and mirrors distractions. most folks listen to their news bits in the car or rushing to get around for work in the mornings or around dinnertime in the evening. otherwise, no attention is paid until they get statements in the mail. the illusion that america will right itself is strong.
Jim: I wish I'd heard your explanation and your advice to get out when the Dow was at ten grand.
It's not just where you are Jim. Things are just as bad here and I had a look at some Dutch websites and nothing is better there.
That cartoon says it all.
The Dow was inflated; Reconstitution has also been warning people of this for years. But I'm not sure how much that means in a real economic sense, since 1987 broke the former economic model. It is my opinion that the Dow has to fall at least another 2000 points to be correctly aligned with the real economy, and it isn't just the Dow; Hang Seng has been stunningly overvalued, more than the Dow even.
The recession of 2001, in spite of the popular mythology, simply did not end; economic growth was a bunch of pretty numbers. For most of us, real declines occurred in our purchasing power, which would have led to the collapse of real estate no matter how those greed-driven derivatives affected the market. Obama is addressing that problem, which is good, but until the declining income problem is addressed, Obama's efforts will not stop the real estate slide. And until the real estate slide is stopped, the economy does not recover.
Mauigirl
Don't be frightened but you could be close. When I first started warning a couple years ago people laughed at me.
They are not laughing anymore! Worse is this was done on purpose as I have shown the back up numerous times!
This is just beginning! When it hits Dow 7000 then it will get bad and go down from there.
This was put off until Bush was gone now it is starting. I am peeved because the timing is no coincidence either!
I know you are not laughing Betmo because you know the brevity of our situation. I know some people here who already started bartering.
It is to late now despite all our warnings but people are beginning to realize this is just beginning!
Monroe Anderson
Damn I am sorry! You had not found me yet but I posted it here and at kos where they laughed at me. They are not laughing any more!
Hi Monique
We brought the entire world down with us the first time and we did this and are bringing the entire world down again. This is still just beginning!
shifter
I am afraid that is the brighter side of it!I have said it for years now but this will dwarf the Great Depression in every respect!
J R
The entire world is going to readjust. The Dow was already inflated but Bush and Greenspan's lies set this up.
People laughed when I use to say the Dow would go all the way back to where it was prior to Bush's artificially inflating lies then it would go down from there.
Despite what they say, this is the second Greatest Depression and it will dwarf in every respect the Great Depression!
The politicians in both Houses are hypocrites. If Pelosi and the rest were feeling our pain, they wouldn't have voted themselves an $8,000 raise last year. Did you get an $8,000 raise last year?
Hi Jim,
If the market keeps falling, soon the middle class investors will loose so much of their dividend payments, it might cause them to retract their capital, first from the market, then from their banks.
The London stock exchange (FTSE), is also gasping for breath.
British banks too, are way overstretched in terms of debt/capital leverages.
If international investors do the same, then the run on the market and the dollar and pound, as overseas investments are repatriated, will certainly add to the "rod upon the back".
I`ll make no predictions as to the final outcome, but it does seem like the collapse of the Western financial model, with all it`s structures and loopholes, is taking place.
"Interesting times" as per the Chinese proverb...
Hey Brother
Good to see you! I am sick after watching the farce of debates over Obama's stimulus. It is obvious only the party's matter and not us or Obama. I am so sick of the hypocrisy and it just continues!
Landsker
This is just beginning! It will dwarf the Great Depression and once again we did it and are taking the entire world down with us! No prediction just long known fact.
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