Totally a biased short side opinion...

Tuesday's Action: Sign of a Bottom?

Another fool who wants to simply turn a blind eye to the grave problem the US & the world economy is facing...

People like you do not understand what grave a risk our US and world economy is because of stupid over-consuming and under-savings Americans. People like you do not understand what a Trade Deficit is or what owing $3 Trillion dollars to the rest of the world can do to us. People like you do not understand that the rest of the World cannot and will not continue to finance our spendings for ever while they under-consume, save and live within their means.

People like you do not know or understand that the next biggest thing to hit us is over $3.6 trillion in credit card & HELOC debt which the bubble-heads borrowed against their home appreciation which has now seriously depreciated. Either they will simply walk away or simply pay them out of their skin and reduce discretionary spending and cut and trash their cards.

People, seriously there is a very grave problem in our system. I was long till I came across Peter Schiff's Crash Proof. You have to see and listen to some of his videos and how right he has been for the last 2-3 years. Not only he predicted the current crisis but also he was right on how it was going to pan out. He was talking about stagflation 2 years back and how the RE bubble will affect Mortgage banks and Bond insurers and major FIs and that major banks and FI could go solvent which it did if you consider the case of CountryWide, ETrade and Bear Sterns so far. And possibly C, WM and LEH to follow...