Why the Market sold off and will continue. Sinking Currency, Sinking Country
Many people are confused at why the market sold off last week.
The experts who run our largest banks and brokerage firms were sucked into a series of really stupid investments.This is not good for public confidence. It raises a realistic question:
"How reliable are the experts who direct investors' money?" The answer: "Not very."
This answer is bad for stocks.
The dollar is falling.
Congress is impotent / corrupt / distrusted.
Bush is a lame duck (luckily?)
War with Iran looks likely.
Jim Roger said he is selling all US assets including real estate due to the intentionial currency debasement by FED and Treasury. JR also said the US is in a recession.
Greenspan said 50% chance of recession. David Tice was on bloomberg.com said the US market was built on easy credit, low rates and the stock market would drop 50-60%.
Buffet was traveling to China and said the China market was to "hot" to find any stocks there.
FED maybe trying to tighten.
Gold is rising. Oil is rising.
Level III accounting is being introduced / explained and it looks very scarey for GS, C, BSC, JPM, MS,
Jim Cramer talked about recession (finally).
Fast Money has recommended DOG two days in a row.
Plus Pat Buchanan wrote: Sinking Currency, Sinking Country
Good news is: Dr Ron Paul raised $4.2 million
Why would anyone buy stocks, except defense industry stocks and energy stocks?