Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 46.82

+9.4%

Nov 5 4:00 PM EST

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To: Real Man who wrote (33817)	10/10/2008 10:43:10 PM
From: Chip McVickar	2 Recommendations Read Replies (1) of 206742

Over the last 25 years we've seen a steady multiplication of leverage and debt. In some cases there has been fraud... in another sense those who created the instruments were having such a great time... they hoped they wouldn't get caught. There wasn't anyone to catch them... So far this market decline has been about the market correcting itself in the face of that fraud. With some asinine intervention by this administration... the markets are doing just that... taking care of business. Government intervention has inherently been late... Paulsen helped to put the fraud in place... he understands it… but not how to stop the destruction. Buying up his buddies bad creations isn't the only problem... re-liquefying the banks with that 700 billion is a better usage, but then you’d call that nationalization of the banking industry. Nobody may actually be able to stop the process for very long… In the end the system we’ve been playing with for the last 25 years… maybe since the Federal Reserve was put in place… will be replaced with something else. We're teetering on a total melt down of the financial system with no president in charge and no presidential candidate who knows what to do…? Maybe not tomarrow... but I'd say over the next presidents term we'll have a new financial system in place.

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