Everyone was predicting the ‘market’ would get would get back to 2002 values.
The only problem, no one thought the ‘stock’ market would beat the ‘housing’ market to the 2002 levels.
The housing market will now soon follow…
What’s this talk of $2 Trillion lost in the retirement funds. Everyone here knows the last 6 years at least has been a false rally, based on fictitious paper. An economy based on the housing market, master minded by Greenspan and fueled by the Dems and Reps for their own selfish needs. That $2 Trillion was stolen from individuals like you and me, saving our hard earned cash until we could buy what we could afford.
Do you hear it? That sucking sound is called “Deflation”. When, you artificially inflate the money supply too quickly (Bad home loans), you will have the opposite affect later and more violently. Of course, there is a shortage of Credit (money supply). The Stock Market just funded some of the bailout, clear and simple.
The market just took a big mulligan. We get to redo the last 6 years…
I would hope the market stabilizes between 7k and 8k for a while. If it drops below 7K, I think the game is over…
I just hope none of us get caught in the collateral damage.
