Is the Stock Market ONE BIG FRAUD?????????
As America shuts down and its people driven into unemployment and ever lower wages with millions now in poverty......we see more and more commentary like the following:
Even as ever more Congressmen express concern about the implications of the ongoing CRE "bubble" (yes, this is a quote), S&P comes out with a report noting that should the banking system be forced to take all appropriate CRE-associated writedowns, it likely would not survive. And all this is occurring as REITs probe new 52 week highs. Welcome to the new economy.
Hmmmmm...... "appropriate" writedowns would destroy the banking system???? Does that mean the whole system is insolvent?????
Remember when Fools thought the financial statements actually reflected an honest assessment of the company........??? The good ole days.......
I met with the President of a local bank today............it was a very interesting conversation to say the least.......let me tell you, unless we take a dramatic change in direction in our country to counter the effects of Zombulation.....few Fools really have any clue about how things are about to change.
Keep watching the ticker.....that is exactly what was happening right before the dot.com crash, Enron, and the crash in 2008.........interesting times indeed as we prepare for the Alstrynomic age.