The Dow Jones Industrial Average went down nearly 550 points during afternoon trading before settling for a loss of 416 points for the day.
Chicken Smith View:
Start getting used to those downward trend charts, as the stock market will really get hit hard once people start realizing that our artificially inflated economy is nothing but hot air.
For those of you who want to have a little bit of money left over after the forthcoming 1929-like collapse of our economy, do yourself a favor and get your money out of the stock market now!
Even Greenspan thinks “It is possible we can get a recession in the latter months of 2007.” By “warning” us, it’s his way of talking to the history books and telling them; “while my economic policies initiated between 2001 – 2005 may be partially responsible for the recession, at least I gave the public a warning at the start of 2007.” At least he’ll be right.