My Father In Law is a Trader and a damn good one who has written articles for the WSJ and been on CNBC, Two of his sons also trade and do quite well.
Their view is that the markets are going to crash and all the Bail Out could do was to delay the crash. Well, the market is crashing now and the Bail Out has done nothing and will do nothing except put our children in debt for a Trillion Dollars.
The fact is that the Government cannot prop up markets.
See: Eastern European Socialism in the 20th Century.
Look, their opinion is as good as anyone’s, likely better. I’m not being flippant. It seems different experts still have different opinions on some of this.
I do think this market is going to turn around, liquidity will return. Fortunes will be made. Some will be lost too.
I know a lot of folks have deemed the $700 billion to be a wasted effort, too close to socialism for their pallet.
Right now we’ve got the E-Ticket ride, and it’s too late to jump out of the roller-coaster.
When it stops, we can wink at each other and know we made it through. I hope. ;-)