Eagle-Chief

Is Lehman in the Midst of a Bear Stearns-like Meltdown?

It's a buyer's market! Strike that. It's a sucker's market. Is (financial) Armageddon coming? I was in front of the New York Stock Exchange when the news of the Bear Stearn bailout broke. It was scary. A lady reporter was doing a story about it. I could tell by what she was saying and the tone of her voice that it was a very serious, dire situation. Later, certain economists said that financial disaster (Armageddon) was averted by the bailout of BSC. Now Nouriel Roubini and others say that the party celebrating the end of the credit crisis was premature. It is possible that the Great Depression of the 21st century lies ahead. Americans are being assailed from many sides...rising prices (inflation), home prices falling like a rock, rising unemployment, the falling dollar, home forclosures, and more. My thinking about stocks has changed over the last couple years. I used to think that stocks were a way to "save" for retirement and make money. Sure, sometimes people DO make money, but many times they LOSE money. Lose bigtimme. NOW I THINK THAT INVESTING IN STOCKS IS JUST LIKE GOING TO LAS VEGAS - IT'S GAMBLING. You may gain, but you may lose as well. In fact, maybe like Las Vegas, you are more likely to lose than to win.