Monday should be interesting. BoA and Citi were both pounded on Friday until The Big O said he didn’t think nationalization of banks was a good idea. Now here on Sunday, you’ve got one of them saying that de facto nationalization would be good for them. All those guys who made money in the last hour of trading on bank stocks last Friday better dump them on the opening bell.
With hillary! begging the chinese to buy our bonds I think the end is near. At some point even the chinese are going to balk. And then what?? What will the dollar be worth in 6 months? I wish I knew. It’s possible it will still be strong but that will only be because the rest of the world will be worse! Talk about chaos!
Look for a 500 point drop (minimum). The Obiwan has aslo announced his intention to allow the Bush tax cuts to expire, and then to increase taxes more. That'll be good for another 500 point drop (minimum). I think this is being done on purpose. We're being taken over.