Roubini Predicts Another 20% Drop in the Market

Random Ramblings
1

Here’s the article:

http://www.cnbc.com/id/37259541

Personally, I’m expecting some government intervention/manipulation starting at DOW 10,000 (maybe even tomorrow).

2

I was just watching Fox business and did I hear them correctly that they may vote on the reform bill tonight?This bunch of crooks,I guess they are trying to do all they can before November.Transparency,whatta joke.

3

Yep - they voted and it passed. The house bill creates a slush-fund to bail out bad actions on the part of big banks. The slush-fund is paid for by fees from the big banks AND WHO DO YOU THINK WILL PAY THAT? Yes - bank customers. Furthermore, much of the real teeth has been taken out of the bills. It’s a joke!

Now we’ll see if some mysterious late-day buyer (the Fed) comes in to save the day (and DOW 10,000) or maybe there will be a new bailout announced. We can’t have the public losing confidence in the world’s largest ponzi scheme. How will the big banks continue to plunder the American people if the public loses confidence.

4

Roubini is constantly saying the market is going lower… I remember him getting CNBC many times during the rally from DOW 6500, saying the rally is not for real. The market’s going down… If you listened to him then, you would’ve missed the rise in Tech, Financials and Oil… Just to name a few… Rememeber when APPLE was basing between $85 and $100? … That was at about DOW 6500… Even after the Tech and the financials started up, he kept his stance… At least he’s consistent… I don’t care if the govt. is propping the market up or not. If our tax dollars are gonna pay for this, why not buy the stocks that stand to benefit from it… Then you can at least have a direct benefit… Otherwise you’re just paying for other investors to get make money… Just my opinion…

5

As long as Wall street has been around and even before it was the bucketshops followed the mouths…There is a shoe for every foot…An a$$ for every seat…Roubini had his 15 minutes of fame and now he is riding the wave from it…Markets have pulled back close to %20 already…So wtf is he talking about now?..We may pullback another %20 or we may go up %20…I have no real feel right here to be honest…I think we kind of chop around before we see the way this Europe Debt crisis plays out…