klarsolo

Market: Spooked Today, But Panic Attack Is Likely Temporary

How many posts like this could have been written at numerous points in history? What do you think people would have posted during the Great Depression? Their list of problems would make you quake in your bones.

But where were stocks when the biggest problems of the Great Depression were finally taken care of? Where they still at the same level?

Do you really think in 3 years from now the big problems are resolved but the S&P is magically 30 % lower or still on the same level? Or do you think in 3 years from now the problems will be even worse and we're 50 % lower?

On Oct 30 09:20 PM marketman54 wrote:

> You want the basics and the fundamentals, it is very easy, here they
> are:
>
> 1. 26 million out of work and growing.
> 2. No one going back to work in over a year.
> 3. Unemployment benefits running out.
> 4. GM wants another 50 billion or good bye!!
> 5. GE wants 80 billion or good bye!!!
> 6. Fannie Mae and Freddie Mac are getting flooded with additional
> foreclosures.
> 7. AIG, not worth a penny????
> 8. Financials still no clarity, foreclosures up, auto and credit
> card defaults up, credit swaps no value, loans down.....
> 9. Auto sales down from 14 million to 9 million.
> 10. Travel and business travel, way down.
> 11. Leisure industry down,
> 12. Dining down.
> 13. Heavy industry, down.
> 14. Durable goods, down.
> 15. Consumer goods, down.
>
> Virtually every sector of the market is worse off than a year ago
> but there is no reflection in the market for this.
>
> Uncle Sam is spending all my money but has run out. The balloons
> will pop and we will crash again and the small guy will be hurt a
> second time.
>
> If you think there was alot of money sitting on the side now, wait
> till the second coming!!!
>
> Things are bad and getting worse and there is nothing that my lying
> government and HOPEFUL wallstreeters can say that will make me believe
> that it is anything other than pitiful out on the street.