How much Green Ink & Toilet Paper do Greenpimp & the ESF/PPT have left ?
Enough to handle:
- post Sept 11th - market prop job
- Argentine default
- Enron derivatives collapse
- War on Terrorism financing
and to come:
- Israel lighting up Palestine & bye-bye Arafat ?
- Major Japanese Banking Crisis ?
- Repatriation of Foreign Investment that is presently propping up both the US Bond & Equity Markets ?
- the maintenance of King Dollar into the face of the resulting decimation of the US Manufacturing Industry & collapse of earnings of US Corporations ?
- another domestic terrorist act ? - a biologic one, a dirty nuke ?
Unemployment, credit deliquencies, defaults, foreclosures & bankruptices ramp and we've got an unprecented negative savings rate with a US Consumer that's just drained the last drop of equity out of his home via the Refi-Boom atop a Real Estate Bubble... that is allready tapped out, debt burdened & not saving - thats now getting laid off in 5,000 man waves... so how much longer can "he" be counted on to spend ? - and let's remember what % of GDP is CONSUMER SPENDING.
...wonder if those AMEX, AMAT, or AETNA employee's are going to be spending more, or less...?
That Mr & Mrs Main St remain fully invested via 401K's, IRA's & various retirment plans in the Mutual Fund Complex in "this" environment... and at these valuation levels; simply amazes me.
Stocks are overowned and overvalued.
Unprecedented reckless creations of credit & Stock Market bubbles do NOT end, or bottom at still unprecedented valuation multiples.
No one is focusing on earnings (and earnings quality), or dividends;let alone historic valuation mutliple parameters & market history.
But before this is over... they will & for decades to come.
Fear & Respect are absent from this marketplace, but not for long...
The "cure" is coming...
You were warned... are you prepared ? |
