Quote:
Originally Posted by Butterfly  we will hit bottom when the Dow starts trading at 6,000. |
I'm no expert either, but that sounds to me like wishful thinking. Apart from housing and banking, the sub prime crisis has had negligible impact on much else. The price of oil, however, has had a great impact on everything.
If Dow goes sub 10K it's because of oil, not the sub-prime crisis (which I believe will be sorted within two years.)
I cite Black Friday in '87, the S&L bailout and 9-11 as very quick rebounds from what the Chicken Little's of the day were claiming were absolute worst-case scenarios. American economy has proven to be very resiliant. I see nothing different now than I saw then, with the exception of much greater volumes --totals and losses.
After a few of these
disasters, it's not even exciting anymore.
