http://www.irishtimes.com/newspaper/finance/2009/0227/1224241894583.html
Mike
That article makes a lot of good points.
Since comparing OUR current situation to Japans seems to be popular let’s look at it for a minute…
In 1990 The Japanese Stock market was at 38,000!!
In 2009 it’s at 7500.
That’s an 80% LOSS!!!
Let’s forget that Japan was in much BETTER financial condition when their crisis started and they’re STILL in better economic health than WE are.
If Japan is a road map to our future IT AIN’T PRETTY…
The same percentage loss in the DOW would bring us down to 2800 :shocked :shocked :shocked
I see NO REASON why that can not happen. The job losses are increasing, home prices continue to fall, they are NOW being joined by COMMERCIAL real estate, and to top everything off…
45 out the 50 States are getting KILLED. California is about to legalize POT so they can tax it. They have a $42 BILLION deficit and they aren’t alone. Those 45 other States are all suffering.
This is just starting to pick up speed. How the MORONS on Wall St. can sit there and tell people to buy stocks is just unbelievable. These idiots CREATED THE ENTIRE MESS. NOW they know what their doing???
We are going down and going down HARDER than ANY OF US have ever lived seen. The down turn will be equal to the dizzying heights of the UP SWING. The real fear I have is this…
Throughout history, In EVERY CASE…A drop like this has ALWAYS OVER CORRECTED, going down FURTHER than anyone expected. It’s a normal reaction to an abnormal event. People WILL over react. It’s for this reason…I fully expect the stock market to fall harder and FURTHER than anyone is planning for.
I was gonna buy that book you recommended but decided against it, I’ll just wait a few years for the updated version.
This book: http://www.amazon.com/Manias-Panics-Crashes-Financial-Investment/dp/0471389455