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Monday, September 29, 2008
New Video: https://www.youtube.com/watch?v=1yoBTPYDxdc
Hello,Do not
misunderstand me. I know that a move down of 777 points is a horror
show for the Dow. I fully appreciate 9% in one day for the Nasdaq.
And, the single greatest combined one-day plunge for all the major US
markets is hard to find positive. Those facts, aside, ask these
questions:
misunderstand me. I know that a move down of 777 points is a horror
show for the Dow. I fully appreciate 9% in one day for the Nasdaq.
And, the single greatest combined one-day plunge for all the major US
markets is hard to find positive. Those facts, aside, ask these
questions:
Where was the panic when the
market ran to 14,000? Where was the outrage when the commodity "bulls"
were running wild? Where was the SEC, Treasury Department, federal
reserve, and, government while all this (as we now refer to it) "toxic"
mortgage paper was being floated in the first place?
market ran to 14,000? Where was the outrage when the commodity "bulls"
were running wild? Where was the SEC, Treasury Department, federal
reserve, and, government while all this (as we now refer to it) "toxic"
mortgage paper was being floated in the first place?
The answers are: Non-existant, nowhere to be
found, and, asleep at the wheel. (And for all you partisans out there,
get off it. Stop the blaming of Bush, Bernanke, and, Paulson. They
were not in office when this stuff started.)
found, and, asleep at the wheel. (And for all you partisans out there,
get off it. Stop the blaming of Bush, Bernanke, and, Paulson. They
were not in office when this stuff started.)
The recent emotional hystrionics that suggest
we are about to head into the next "Great Depression," then, seem a bit
out of line with the facts. I mean, how could we be heading for a
"Great Depression" when it was...
we are about to head into the next "Great Depression," then, seem a bit
out of line with the facts. I mean, how could we be heading for a
"Great Depression" when it was...
...JUST EARLIER THIS MONTH...
That Larry Kudlow declared "Goldilocks" was back? Didn't Jim Cramer
just tell us that he was "sticking his neck out" that the "lows of
July" would not be hit EVER AGAIN? Didn't Erin Burnett tell us that
the US economy was "Economic Nirvana" last year?
Didn't Hank Paulson tell us that there was "no
problem" with the US economy earlier this year in his testimony before
congress? Didn't he say that all those new and "sweeping" powers he
requested would be unnecessary, unused, and, underwhelming in actual
scope?
problem" with the US economy earlier this year in his testimony before
congress? Didn't he say that all those new and "sweeping" powers he
requested would be unnecessary, unused, and, underwhelming in actual
scope?
Right.
But, I told you this would happen. For PETE'S SAKE, I did a video
called, "THE GREAT CRASH OF 2007" where I laid out this very scenario
we find ourselves in. (Watch that video here: https://www.youtube.com/watch?v=xKBM8Q_w0wg )
That was back when I was a nut. You know, a "conspiracy theorist". Easy to laugh at, and, easier to dismiss.
So, now, Jim Cramer (et al) have co-opted my
word, "Depression". That's what'll happen when all the bullish
bullshit you spun proved to be, well, you know...
word, "Depression". That's what'll happen when all the bullish
bullshit you spun proved to be, well, you know...
The bulls of yesterday are the bears of today.
But, did their advice profit you much last time they forgot to take
their Zoloft? No. So, why do you think they will be right this time?
But, did their advice profit you much last time they forgot to take
their Zoloft? No. So, why do you think they will be right this time?
There is downside ahead. Okay, no kidding.
We've not seen "the bottom" yet. Got it. But, folks we are down 4,000
points in a year.
We've not seen "the bottom" yet. Got it. But, folks we are down 4,000
points in a year.
I'm telling you that this sudden panic and fear
from the likes of Jim Cramer (et al) portends we are closer to "A"
bottom than THE top.
from the likes of Jim Cramer (et al) portends we are closer to "A"
bottom than THE top.
Get read to buy some stocks. I'm doing my best in my Gold Service to lead the way.
Here is the link to join my Gold service:
https://www.donharrold.net/gold
If you want to trade intraday with me live:
Thanks for reading this, and, let me know how I can help you.
Sincerely,
Don Harrold