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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: elmatador who wrote (25095)11/12/2007 3:21:30 AM
From: Maurice Winn  Read Replies (2) of 217774
 
ElM, the whole business has been predicted by so many people for so long that I'm thinking there must be so much money stacked up to profit from it that it's probably fully discounted and isn't going to happen. <housing crisis, credit crisis, now the US consumer confidence crisis. It is time to admit that the US economy is headed for a serious economic downturn>

Let's face it, right here [or at least in the original stream], doom has been predicted for nearly a decade. It's getting boring waiting!

The housing peak has been in for two years now. While the bankruptcies were still accelerating last time I looked, there must have been a lot of market clearing already. Of course as in the early 1930s, market clearing can go in a series of tranches which each newcomer who thought they were buying the bottom being cleaned out as new lower lows were made.

However, rumour has it that Barclay Capital and other such institutions such as Citibank [group/corp] are not hunky dory. Northern Rock turned out to be Northern Quicksand. GM has just announced their vast losses. It would be surprising if there isn't another shoe [or shoe shop] to drop.

Mqurice
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