Congratulations for alerting people.In order to assist making your points stronger,I would like to mention the following:
The now bancrupt State of Greece (too much has been said and written about in the past years), used to be in a similar situation back in 1999.Euphoria in the markets,plenty of credit,optimism for the future,etc.etc.
2)The fundamentals (as far as it concerns the yield curves) were similar.
3)In August 1999, only a few market participants started to realize that we were in a bubble, so the market started some "nervous" swings by September 1999.It was then, that the Prime Minister of Greece (K.Simitis at the time), came out to claim that the economy was strong and the best was yet to come.He made in public statement the bold prediction that the General Index of the Athens Stock Exchange would hit 7500 points within months (the Index trading at the 6000 area at the time of the statement).This statement (along with the nessecary interventions) "stabilized" the market for 2 days.Pursuant to this, gravity was proven more powerfull than words, and a huge decline started.So unstoppable, that after three months (when elections had been announced for April of 2000), the Minister of Finance made another bold statement that the Stock market decline had an "expiration date"-that of the elections date. (When this latter statement came,the Index was around 4000points, and at the elections date it was 2500points).
AFTER the elections took place, the market continued its free-fall, to make the 1000 mark area its home, for years to go.
4)The market is since DEAD (currently around 600).
Although the economy of tiny Greece is not comparable with that of the US, the economic fundamentals were similar, and to my humble opinion, should something bad comes along , it may NOT be fixed for generations to come.
Just look at the Nikkei.Where was it trading back in the '90s? Where is it now? Over 25 years of ?????????????????????????????????????
Thanks for keeping us informed Greg. Thanks mike
Scary times. Hopefully the Fed cuts rates and ends tightening at the next meeting.
That would exacerbate the problem...
Damned if you do but possible immediate fatalities if you don't. I'd rather we have a slow collapse than a sudden deadly one.
Thanks again, Gregory, for sharing your work. Support your Local Coin Shop.
WHAT?!!
I didn't sign up for this!
I was as far away from the stock market as i could get. (literally and figuratively)
Why do i have to be in the Stock Market Crash?
:-p
Got some cash handy, time to make more shelves to stock.
There isn't much I can do. I expected this to happen for years and acted accordingly. I just lean back and watch.
Congratulations for alerting people.In order to assist making your points stronger,I would like to mention the following:
2)The fundamentals (as far as it concerns the yield curves) were similar.
3)In August 1999, only a few market participants started to realize that we were in a bubble, so the market started some "nervous" swings by September 1999.It was then, that the Prime Minister of Greece (K.Simitis at the time), came out to claim that the economy was strong and the best was yet to come.He made in public statement the bold prediction that the General Index of the Athens Stock Exchange would hit 7500 points within months (the Index trading at the 6000 area at the time of the statement).This statement (along with the nessecary interventions) "stabilized" the market for 2 days.Pursuant to this, gravity was proven more powerfull than words, and a huge decline started.So unstoppable, that after three months (when elections had been announced for April of 2000), the Minister of Finance made another bold statement that the Stock market decline had an "expiration date"-that of the elections date. (When this latter statement came,the Index was around 4000points, and at the elections date it was 2500points).
AFTER the elections took place, the market continued its free-fall, to make the 1000 mark area its home, for years to go.
4)The market is since DEAD (currently around 600).
Although the economy of tiny Greece is not comparable with that of the US, the economic fundamentals were similar, and to my humble opinion, should something bad comes along , it may NOT be fixed for generations to come.
Just look at the Nikkei.Where was it trading back in the '90s? Where is it now? Over 25 years of ?????????????????????????????????????
Totally agree on the buying stocks thing! Don't even try to trade this thing unless you have some experience! Rallies and drops are going to be crazy!