I totally agree, yet let's not forget the BS 100 share uptick by institutions while their hyping, and dumping their trash! I said back in April, the ripple effect from April 4th when the Nasdaq was down well over 500 points, there would be irrefutable damage in the future, and it would take a min of 8 months to fix based on a long term chart. But, I think the IPO trash that they have dumped on the open market will cause even more pain around tax time next year. Therefore, I'm not sure how long it will take for all this to shake out.
This year is so bad, that we haven't even begun to see the real damage. Markets cannot lose over 25% in one year without having some detrimental effects on this economy. You think we have a slowing economy now. We haven't seen anything yet. When you have CEO's that are getting margin calls, energy prices sky rocketing, 401-k's shrinking, and corporate debt at unthinkable levels, that spells disaster. Corporate layoffs will be fast and furious this time next year. Then we will see the real shakeout from all of this. So these analyst better get used to some SERious criticism, come next year, they'll get plenty of it, as long as they have jobs left.
KM |
