I’ll borrow that ‘compound stupidity’ phrase, and compliment you as I do.
I’m not sure the free fall would have happened if they’d have taken different courses of action earlier on, and with policies that had the effect of completely destroying confidence in the markets.
We may be on the verge of capitulation.
I remember telling colleagues that 7900 would be an evaluation point to reenter the market. We’re know 1250 below that mark, and there’s no way I’d get back in right now.
At this rate, we could be at 5300 by the end of March. I can’t believe I’m writing that. I was hoping against hope the market was going to dip one more time down to 8200 so I could buy back in. It was cycling between 9500 and 7800 for the last year or so. 6750 and I don’t see a bottom. Original funding for the Iraq war was 80 Billion and the left had a cow. Now AIG loses $61.6B in a QUARTER? $30B lifeline doesnt’ seem all that helpful.