08-28-2009, 09:59 AM
Grieve Wrote:Thudz Wrote:The whole market is up for no reason. It's poised for another collapse.The S&P was at 1,426 last May. Even after this run it's still down almost 30% from that level. Now that a depression and financial armaggedon is off the table, you have to ask...is there any reason almost a third of the value of the stock market should have been wiped out?
Rather than the market being up for no reason, you have to look at it this way...the market went down way more than was ever justified. The companies I'm invested in are not earning 30% less than they did last May, and some are earning more.
Alittle insider knowledge here...we have some major banks who are not in very good shape and unless there is some divine intervention they will collapse. The FDIC's pot is empty and needs more money. Banks that were "too big to fail" before are getting bigger everyday as they consume the smaller failing banks that are dropping at a rate of 11 per month. A long standing regulation that stated that no financial institution could hold more than 10% of all the nations deposits has been eclipsed by not 1 but 3 banks.
The next fall is coming and is going to really hurt.
"You cannot invade the mainland United States. There would be a rifle behind every blade of grass." - Admiral Isoroku Yamamoto
Every citizen should be a soldier. This was the case with the Greeks and Romans, and must be that of every free state.
-Thomas Jefferson
Spread my work ethic not my wealth.
Every citizen should be a soldier. This was the case with the Greeks and Romans, and must be that of every free state.
-Thomas Jefferson
Spread my work ethic not my wealth.