I want your opinion on the following guys:
I'm pretty sure today marked the real moment in which we begin plunging down past the 1100 mark on the S&P. I'm figuring we end up somewhere in the 900-1030 range for a bit, like how we have been stuck in the 1100-1250 range for the past month and a half.
Let's face the reality that Bernanke and higher powers today compromised with the twist. I was still expecting QE3. It didn't happen. Not only is the next Fed meeting in November (too little, too late) but from today until then, I can only see the markets going down. Where can we look now for any growth? Obama's 400 billion job plan that will be dead- on-arrival next YEAR? The fact that, after this, I really can't see how any external force is gonna regather confidence in the corporate sector whom at least now, is still reporting healthy quarterly earnings but sooner or later won't be. And let's not even consider how much of a political mess the next elections are gonna be in stirring this economy through volatility.
And Greece is gonna default. Spain and Italy are almost there today, Let's not even talk about what shape they'll be in a few months down the road when greece debt blows up. France currently holds most of this toxic Greek debt, so expect the seconds biggest economy in Europe to face some heavy issues of it's own soon. French banks are being downgraded left, right and centre. Does the world really expect Germany to bailout everybody? The German people would gladly riot, and believe me those riots are getting very popular nowadays.
But hey, when all this is said and done, let's hope there's a ton of money to be made on the way back up. But hopefully this next economic downturn won't be on any level close to the depression (which some saying are saying worse than). Because if it is, the great depression lasted 13 years and took a world war to get out of. I'd hate to invest a market that might be down for thirteen years.... I wonder if the European Union will break up when this happens so they can start printing money like the US.
Get your children ready as barter objects!!!! /rant