The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Giordano Bruno who wrote (103076)	2/2/2008 3:08:32 PM
From: ChanceIs	Read Replies (2) of 306849

(Also from CNN) Jim Rogers - worst recessions....since the Second World War. .................... "Bernanke is printing huge amounts of money. He's out of control and the Fed is out of control. It's not a good scene." ........................................ He says he hasn't covered his short positions on the investment banks or Citigroup (C, Fortune 500) and won't for a while. "Those things are going to go way, way, way down," says Rogers. "The investment banks are down now because of the problems in the credit market. Wait until the effects of the bear market come along. If you just go back and look at other bear markets, investment bank stocks have gone down enormously. We haven't gotten to that stage yet. It's going to bring their balance sheets under duress. This is going to get much worse. But that's where there have been excesses for the past decade or so. And whenever you have a bear market come along the great excesses of the previous period are the ones that get cleaned out the most." money.cnn.com

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