I think this mess will unravel in a very rapid fashion, once the process sets in motion. We may even buy THE bottom of stocks in 2004, not 2010. And that's in America, not Japan. Of course, it will be quite scary at that point. I expect DOW to trade below 2000, Nasdaq may even trade in the double digits.
Derivative markets are very efficient. They are efficient when they blow up, as well. There will be a bad aftermath of the derivative crisis, but my hope is America will come out of it relatively quickly, with not so much blood. I just
hope the democracy here can withstand possible dictatorship coming from the president, since things like that have a tendency to happen during bad times. Europe has had experiences like this, but America seemed to enjoy freedoms at all times, and
now takes them for granted. That's my scary thought.
Yeah, I don't need to clarify where the BK will come from. It's the credit market derivatives, of course. I think the BK is unavoidable at this point, unfortunately |
