Regardless of the prophecies and sagely council, the simple observable facts are exactly that … observable.
The barbarians are laying siege to all the previously unassailable fortresses and forbidden sacred grounds. First fell the Microsofts, sabotaged by the locals; then fell the Amazons, followed by the Lucents, Banks, Intels and now the Ciscos. The drinking water is poisoned by debt. The air is thick with the screams from the rampage and melee. The gates of GE are burning. Finally will fall the Coca-colas, Mercks, Real estate and with it the mighty Dollar. The barbarians’ mopping up operations may exact a similarly heavy toll again by percentage (NAZ to 1400) on the already weakened, depleted and ransacked fortresses. Then, and only then, it will be time to buy, buy blindly, without fear and regret.
A miserly, miserable and all expected 1% interest rate drop by Al Greenspan will not be able to stop the bleeding, but only give a final wink of hope before the candles gets snuffed out by the simple lack of oxygen and the will to “buy and hold”. What may delay the reckoning will be a massive and unforgivable release of real liquidity that will replace the vaporized trillions of false value.
This is how bear markets work. Welcome to the brave new world of 2001 where there are no forbidden grounds on which the barbarians dare not tread. |
