The clowns and half wits do not remember what
happened in 2000. But, I remember.
In 2000 the Clinton tech stock bubble crashed -
wiping out trillions of folks retirement monies.
Tell me, OCU, how brutal was that on your 401K?
In the meantime . . .
http://www.marketwatch.com/story/dow-will-repeat-2007-2008-peak-crash-cycle-2012-09-24?pagenumber=2
December 1999: Larry Wachtel, Prudential. “Most of these stocks are reasonably priced. There’s no reason for them to correct violently in the year 2000.” Nasdaq lost over 50%.
. . .
September 2000: Jim Cramer, host of “Mad Money.” Sun Microsystems “has the best near-term outlook of any company I know.” It fell from $60 to below $3 in two years.
. . . .
April 2001: Abby Joseph Cohen, Goldman Sachs. “The time to be nervous was a year ago. The S&P was overvalued, it’s now undervalued.” Markets fell 18 more months.
. . .
June 2002: Larry Kudlow, CNBC host. “The shock therapy of a decisive war will elevate the stock market by a couple thousand points.” He also predicted the Dow would hit 35,000 by 2010.
The Dow didn’t bottom until October 2002 at 7,286, down from 11,722. The Iraq War started in April 2003. Soon after, Enron, Spitzer and Sarbanes-Oxley were distracting us from all the insanity of the 2000 crash, the bear market and the 2000-2002 recession.
Warning: In the next four years — no matter who’s president — Wall Street will keep repeating the B.S., piling it on thicker, deeper, until they finally trigger a new meltdown bigger than 2008, worse than 1929, driving America into another Great Depression, like the 1930s.
>>>
Zim.
Mad Poet Strikes Again.
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