|
I thought the same thing after reading FT this morning. It doesn't take much to turn the crowd into a mob. I felt from the get-go that the Fed made B of A SAY they were going to buy Countrywide just to quell the panic. Then you didn't hear another word about it because the cancer then spread to THEM! I called my retired friend this morning, who's broker STILL has him in financials and mortgage 'backed' instruments and told him to GET OUT of all of it first thing this Mon.! The jerk has been taking him for a ride, telling him not to buy any gold and to hold tight. Jesus. Pretty hard for me, a HAIRDRESSER, to override that crap advice! But I've been watching this thing like a hawk and put all my money into gold in Aug-Oct.
Here's an example of what the "BIG BOYS" have been thinking. A clip from a McClatchy article today:
"The losses stood in stark contrast to the forecasts of most mainstream economists, who'd predicted an increase of about 25,000 jobs in February".
WTF????
Thanks to Mike Whitney's "wildly pessimistic" articles this past year, I've been ahead of this shell game.
|