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Source:
Listening to the Echoes of 1938
MICHAEL SANTOLI
Barron’s MARCH 21, 2009
http://online.barrons.com/article/SB123758871198199971.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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March 21st, 2009 at 1:17 pm
Let me see if I can paraphrase: The market could go up. Or, it could go down.
March 21st, 2009 at 9:02 pm
Classic Divergence. I’m buying it cautiously.
March 22nd, 2009 at 11:54 pm
Also worth noting: over the last three months, the Russel 2000 is down by more than the SPX; also true over the last 6 months.