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Post by docfung on Nov 3, 2007 6:38:19 GMT -6
CHARLES MERRILL FEARS MARKET CRASH Date: Saturday, 3 November 2007, 5:50 a.m. Fearing a stock market crash worse than 1929, Charles Merrill (http://www.merrillcharles.com) of Palm Springs, cousin to the founder of the Merrill/Lynch dynasty, is quickly converting to gold coins. "Merrill Lynch is crashing, due to the ineptness of the CEO. No matter who is running Merrill Lynch & Co., it's going to need a regimen of restraint and recuperation after getting badly bruised by the global credit market shakeout. I predict a house of dominos, and the whole stock market is going to crash," stated Merrill. The world's largest brokerage took a $7.9 billion writedown for subprime mortgages and asset-backed bonds whose values went sour. Many on Wall Street believe there's more where that came from - maybe another $4 billion - and Merrill Lynch's leadership will need to reduce risk and rebuild morale among its ranks. Merrill stated in a Palm Springs interview with Michael L. Grace (http://www.michaellgrace.com), "There is going to be a major stock market crash, so protect your assets. Buy physical gold and hide it." *SNIP* www.ereleases.com/pr/20071030012.html
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Post by beachbumbob on Nov 3, 2007 8:33:11 GMT -6
plunge protect team been working overtime. FED pumping more money into market, Bernake screwed no matter what he does. And chaos growing in the middle east sounds like the right mix
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Post by jeffolie on Nov 3, 2007 11:25:49 GMT -6
I am expecting a system wide Crisis in the Summer of 2008. Bart, www.nowandfutures.com/forecast.html#predict_dow and carlfutia.blogspot.com/ have been the most consistently correct and both are bullish over the next few months. One point that I have been not writing that is intersting is the effect inflation can have on stock prices. As I have read, in times of high inflation stocks may rise in inflated currency standards and yet fall in precious metals standards. So the stock market may avoid crashing in nominal dollars and still crash in precious metals standards. This is one reason I label what I expect to happen as the Crisis in the Summer of 2008. Currently, I favor inflation over deflation as the background for the Crisis in the Summer of 2008 although I have not ruled out deflation during the crisis. The Crisis in the Summer of 2008 will be the unavoidable result of the mortgage foreclosure fiasco. The peak in mortgage resets has been forecast to be in March 2008.
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Post by docfung on Nov 4, 2007 5:50:05 GMT -6
I am expecting a system wide Crisis in the Summer of 2008. Bart, www.nowandfutures.com/forecast.html#predict_dow and carlfutia.blogspot.com/ have been the most consistently correct and both are bullish over the next few months. One point that I have been not writing that is intersting is the effect inflation can have on stock prices. As I have read, in times of high inflation stocks may rise in inflated currency standards and yet fall in precious metals standards. So the stock market may avoid crashing in nominal dollars and still crash in precious metals standards. This is one reason I label what I expect to happen as the Crisis in the Summer of 2008. Currently, I favor inflation over deflation as the background for the Crisis in the Summer of 2008 although I have not ruled out deflation during the crisis. The Crisis in the Summer of 2008 will be the unavoidable result of the mortgage foreclosure fiasco. The peak in mortgage resets has been forecast to be in March 2008. www.thetreeofliberty.com/forum/viewforum.php?f=1&sid=5fbd1e21ceb536f8ff4e3e7d3f16c674Intersting economic info at this site, also.....
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