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It'll go back up. It's had a DRAMATIC climb and a bit of correction has been due for a while. It shouldn't be too much of a one. If it's bigger than 10% I'd be real surprised.
Actually, for PURELY SELFISH reasons, I feel a bit better. Because I'm retiring (rode the market up from the March 2009 bottom) and figured I needed to "play it safe" with my money now, I got out of the market at the end of March when the S&P was at 1169 - and while the market went up I was kicking myself (even though I knew it was the RIGHT thing to do for ME under MY specific circumstances). Now with it coming down a bit, I don't feel QUITE so bad - especially since I'm confident that for those longer term investors it'll start back up again within a few weeks.
Meaning that GS and the other big banks are insolvent. And that they have made a lot of money with fraudulent deals and by buying political favors. The gig is up.
Meaning that GS and the other big banks are insolvent. And that they have made a lot of money with fraudulent deals and by buying political favors. The gig is up.
http://boombustblog.com/201002211324/For-Those-Who-Chose-Not-To-Heed-My-Warning-About-Buying-Products-From-Name-Brand-Wall-Street-Banks.html (broken link) Read this and then repeat what you just said.
http://boombustblog.com/201002211324/For-Those-Who-Chose-Not-To-Heed-My-Warning-About-Buying-Products-From-Name-Brand-Wall-Street-Banks.html (broken link) Read this and then repeat what you just said.
"Some of the top secret AIG bailout info is out. Guess who's at the heart of it, making money by creating straight trash, selling it to its clients then buying insurance to benefit from its inevitable crash? I have been warning about Goldman's ability to sell trash to its clients for some time now." From the link. That is the fraud that they are being prosecuted for. This is very likely the end of GS. The profits
that GS was racking up were in part driven by fraud. This means that the stock market recovery that you've been touting has been driven in part by fraud. Fraud is unsustainable. This means that the stock market recovery is unsustainable in as much as it is driven by the fraud. And so the crash is inevitable.
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