Your passion is admirable I must admit. However, one thing is certain amid all this doom and gloom. You ready for it:
Bear markets are boring; bear markets are common; and bear markets are ordinary. We have had 12 of them in the last 60 years. That's one just about every 5 years.
Sooner or later all of this turmoil will stop. The free market cannot sustain a crash or a bear market ongoing in exactly the same way as it cannot sustain a bull market ongoing.
How many of us have a real recollection of what happened on 11th September in markets across the world. 4 trillion dollars was wiped out in REAL losses around the world. 4 trillion dollars!. Markets today are still higher than the peak of the market prior to September 11.
The only businesses that seem to be going broke are banks. The Citibank Lehman thing is different. They are competitors. CNP will be a customer of Citibank not a competitor.
It's no surprise to me that the bailout package was agreed on, then defeated and then Citibank gets to snap up Wachovia. Smells like a dead fish to me. Almost like it was planned.
There will be a bailout, however the U.S. will still go into a recession (again recessions are boring, ordinary and common)...and then this will all be forgotten (but not by me).
CNP Price at posting:
9.1¢ Sentiment: None Disclosure: Held
