At this point we either recover or go down with the 1929 crash.
(assuming we follow historical models)
I'm going to wait for a "sucker's rally" and I'm cashing out.
At this point we either recover or go down with the 1929 crash.
(assuming we follow historical models)
I'm going to wait for a "sucker's rally" and I'm cashing out.
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Fred Bastiat
As a former finacial services professional, I'll tell you what I told my clients during the Tech Bust, It will come back.
Unless you are independently wealthy, own really crappy stocks or have a crystal ball, you shouldn't be trying to time your equity liquidation.
I don't know how much faith I put in that chart. Sure, the numbers look scary, but what we are going through now is nothing compared to the 1929 crash. The market in '29 wasn't over 500 points. When it lost most of it's value, there was almost a collapse of the markets. In other words, the stock markets as we know them were almost ghosts.
Things are so much more different now. We are now a global economy.
The market will either A) bounce back like it always does, or B) collapse because America goes out of business.
Jerk, for some interesting articles you should totally check out bearhunter.com.
tee hee
"The choices we discern as having been made in the Constitutional Convention impose burdens on governmental proceses that often seem clumsy, inefficient, even unworkable, but those hard choices were consciously made by men who had lived under a form of government that permitted arbitrary governmental acts to go unchecked." INS v. Chadha, 462 U.S. 919 (1983) (Burger, C.J.)
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