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The Stock Market Crash of 2008
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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 90 days ago (img391.imageshack.us). Views: 301
Tags: stock market crash of 2008 |
| Related Tags: wall street credit crisis housing bubble chinese bubble stock market |
October 9, 2008
A picture is worth a thousand words (and over 6 trillion dollars in lost market cap for U.S. stocks).
Wall Street just did not get it, or they would have predicted all of this long ago, as quite a few smart analysts did. (When I say quite a few, the percentage is still far less than 1%.)
Here is a longer term chart.
The situation is very scary and although I foresaw a lot of these problems, I wish I had been wrong. Things could actually get a lot worse for housing until around 2012. The best case scenario is a Dow bottom near 7,000, the worst case is Dow 3,500, putting the Dow at around 1993 levels which is around when some would argue the current stock market bubble began. The worst case can maybe be averted if the government prints a massive amount of dollars and spends a half a dozen trillion dollars buying up stock and homes, but in that case the dollar will collapse, which is just as bad (maybe worse). If that happens, look for gold above $5,000 per ounce.
Watch gold prices and get your money OUT of the dollar if gold starts to skyrocket. In any case, it looks like the credit rating of the U.S. government will eventually be downgraded.
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