Did U Think The Ponzi Scheme Would Last?

Bearish on Banks - Why Now Is the Time to Sell

On Oct 05 02:22 PM aarc wrote:

"As for being over-bought; it is simply not true. $BKX was only
able to recover 30% of it's total losses from January 2007 to March
2009. Basically $BKX went down by 85.33% from it's Jan 2007 high
of $121 to Mar 2009 low of $17.75.

Today it is still selling at 62% discount from it's highs. That
is not an over-bought condition. So for longer-term hold; buying
$BKX or XLF at these levels is still buying at a discount of 62%.
You cannot be paying at an over-bought price with that kind of massive discount."

You talk like the highs were something other than a credit Ponzi. You make it sound as if it was normal for banking to be 25%+ of GDP. Don't you understand that they don't add any economic benefit? They are money changers, not producers of anything. They are scam artists and the scam is bust. They will NEVER return to their old highs and in fact they will be lucky to stabilize at 20% of their old highs once this depression really plays out.

Out of control fractional reserve banking was a scam that was allowed to run amok as long as it goosed the economy but now that banks won't loan and people won't borrow it is foolish to look for some return to the old days or anything close to it.