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Politics : View from the Center and Left

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To: Alex MG who wrote (243891)	2/3/2014 2:32:57 PM
From: Rarebird	Read Replies (1) of 540836

After 9/11, the American people chose to give up their civil liberties in return for safety (additional security). I found that abominable, but what could I do, I was in the minority. However, the vast majority of Americans were bothered by the bailouts to GM, Travelers and many of the big banks. The interesting question here is the reaction once these companies need to be bailed out again. I don't think the average American will stand pat next time. And there will be a next time if the stock market continues to fall since the market is the economy at this point in time. Janet Yellen has a history of being a super dove. However, she loses all credibility if she changes the Fed's current course of tapering. Once the market (S&P 500) reaches the 20% decline level, it will be interesting to see what she does (says). My read is that after a possible double top, the market enters a bearish period similar to 2000-2002 and 2008-2009. It won't be pretty. This one should last from 2014-2016 and will be just as devastating as the other two, if not more so. I'm in the later camp (more so).

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