Price Of Oil & US Collapse Imminent? WTF?

jesterx · Coal Joined: May 31, 2008 Posts: 4

You guys there is lots of talk about a coming crash on the stock market.
The big banks are failing and there is trouble brewing. Have a look at what this analyst is saying. He has predictions that are coming true day by day...insane.
This guys predictions keep coming true and predicting this meltdown will crash the market later this year.

Stock Market Crash Update
Part 1 link1

Part 2 link2

Narz

Someone's predicting a stock market crash every year. I'm sick of the suspense.
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catbox

Been listening to Myspacesecrets for a few months now on the uTube.
I admire him for doing his thing and he's got some good insight into the markets. But.....most of the things he talks about are and have been talked about here at PO.Com for quite some time. I also think he's a little late to the PO party...although he's started talking about energy a bit more these days.

That said, I look forward to his clips each week.

catbox
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Nicholai

Jesterx.....we've heard this time and time again...and it never happens. Fail thread is fail.

jesterx · Coal Joined: May 31, 2008 Posts: 4

I understand ...

you are all entitled to your own opinion....but i guess I am really open minded about the economy.

I know that there are some serious stuff going on with the economy....but you guys dont think this market will crash?

The failure of the banking and financial systems is pretty serious......

I hate when they keep saying this is the bottom get back in......they keep saying that and the market keeps tanking.....

I No doubt believe the market will crash though....soon probably this year I guess.

jlw61

Cashmere · Light Sweet Crude Joined: Mar 27, 2008 Posts: 1971

Eli

CarlosFerreira

vaseline2008 · Tar Sands Joined: Apr 28, 2008 Posts: 82

I guess we really have to define "crash". In 1987, the DJIA dropped 508 points for a total of 22%. Today, using 11,000 as a reference point, it would have to drop between 2200 (20%) and 2750 (25%) to have the same percentage drop as in 1987. We now see ups and downs between 200 and 300 points quite often. What I've been seeing is a slow decline from 14000 to 11000, that's 3000 points, just short of 25%. Has the "crash" already happened or is it going to get worse?
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CarlosFerreira

Portugal's main index (PSI20) has dropped over 30% since January. There have been days of 8/9% drop, and days of recovery. The aggregate is not pretty, though. A new sort of crash, that isn't a crash at all, but a long, painful and heavy decline towards the bottom?
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vilemerchant · Heavy Crude Joined: Jul 07, 2008 Posts: 122

CarlosFerreira

cube · Fusion Joined: Mar 12, 2005 Posts: 3776

f2tornado · Tar Sands Joined: Jun 21, 2008 Posts: 51

We may yet see a day where the DOW is down 500 to 1000 points. I could only see something like a 1987 type drop if a major bank like Citi failed. The energy sector has helped the broader indices but if the oil demand destruction trend continues then this segment ironically lead to the next big drop down in the broader markets. The unemployment numbers are not there (yet) to support an extreme recession. Hell, even a McDonalds on the other side of my state is offering $14 an hour just to compete with oil service jobs. One thing that has given me pause is knowing the DOW is essentially at the same level it was in 1999. That is nearly 10 years of dead money with some tiny dividends to say thanks. If the stock market is a sign of wealth then the US hasn't created much over the last decade. Staglation in disguise. Retirement accounts worth the same they were 10 years ago along with 10 years of compound inflation. Better have a good broker or be a solid stock picker.