Hmmm, had to take a siesta for a few days and dang it if I didn't miss another chance.....this is three times in the summer this has happened....those summer vacations have cost a lot........
The CB's were looking for an event this week, we got it, but it wasn't as expected, up then down.....almost a negative 3% in one day, hey I was expecting something like that last week and we only got to a little over 2%....., I fear the next several days......if this ain't the right moment for a big slide I don't know what is.....global economic meltdown, the big wave down...you know...Fibronacci stuff.....
Boy, Cramer really became unglued...but you know, he showed his knowledge base with that rant, why didn't he expect the upcoming mortgage strife??? What do you mean give him a break..... It's obvious it will come, he didn't know???? I would expect that one in his position should have known......and it's not the Feds fault you know....what....you think it is....., its goes deeper than that.....back 20 years at least.....and it basically comes down to this, after the WWII economic run we had while the rest of the world stood by and looked on........the US citizen has been economically beat by big business, NAFTA's and CAFTA's, as well as taxes....the gov't is broke, commodities are extremely high, one cannot expect to be paid so little and live in such an expensive environment....being broke is going to be normal......
Well its looks like we're at the end of a long run economically, amazing it's been this long......now we look forward to our neighbors going broke due to slimeball mortgage practices......and who knows what.
I'll take a slimy Margarete barkeep!!!
Carnac