Alstry redeemed: Varchild predicts 300 Dow Plunge soon...
I've been eyeballing the Gallup numbers and they still really don't look good.
CONSUMER SPENDING? Can't be seen as anything but going Sideways.
JOB MARKET? How does 22% Hiring..... 26% laying off.... sound to you? Does that sound wonderful? Look at the the chart itself on hiring.... The market was improving until WAM! a huge spike downward JUNE 4th through 6th.
That's THURS, FRI, and SAT of.....LAST WEEK!! And that's key to why I predict a massive unemployment spike coming out of tomorrow's 8:30a.m. report on New Jobless Claims.
President Jimmy Carter's II's economy is deteriorating.
What Jim Cramer was getting all *Bullish* about is absolutely phony baloney short sighted, day trader, bull malarkey... Totally based on the fact that the trend of economic collapse is slowing.
But... If I have a large city of private industry businesses hiring 1 million people.... And my city hits a recession!!! OMG!!
1st Month: 100,000 people are layed off... (FEB)
2nd Month: 300,000 people layed off... (MAR)
3rd Month: 275,000 people layed off... (APR)
4th Month: 75,000 people layed off (MAY)
Gee? Ever since MARCH my city's economy must be improving !! GREEN SHOOTS!!!!!
Uhm? In a city with a population of 1 million and we are talking about losing nearly HALF the population in job loss after the 2nd month.... The fact that the 3rd and 4th month's job losses look on face value far better than the previous is utterly meaningless! Cause by MAY..... Far Less than 1/2 the population has a job.... By May.. Only 250,000 people have a job.
How exactly is my CITY going to support 1 million people.... when only 1/4th of the population is employed?
Alstry has repeated his DIRE PREDICTION of (September) which I find to be waaaaaaay to pessimistic. But I easily see why he shoots for September.... He's predicting the Market prices in....factors in...the Cold, Winter Months ahead by then... which trend BEARISH during a recessionary, stagnant economy.
Of course.. Home Depot's sales are up! So all is well with the world... I guess I should shut up.
Anyhow... If I am right and we get a large plunge in the DOW....
I'm still a *buyer* in the market.... Because long term America will do just fine if they would only stop voting for Jimmy Carter II and his hench-woman Nancy Pelosi.