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Hi everyone, there was a post made on ronpaulforums.com [url=http://www.ronpaulforums.com/showthread.php?t=149165]40 DAY WARNING : Sep 2008 Market Crash? PREPARE NOW... - Ron Paul Forums[/url] 40 days ago predicting that the stock market crash would happen today. The poster referenced a post that was made on this forum.
The post can be found here: [url]http://www.city-data.com/forum/politics-other-controversies/287794-please-read-now-sept-2008-economic.html[/url]
The poster was understandably ridiculed because he sounded like a paranoid nutjob. However, it turns out he was dead on.
The post is difficult to read, no use of paragraphs... it's like one big blur. I see something about a crash in mid September... but I still fail to see how 4.5% in a day is a crash. Consensus among financial experts say that a crash is double digit losses, like the 13% one day drop on Black Tuesday.
Granted tomorrow may bring further losses, but it could also bring short term gains should the Fed lower interest rates.
typically anything more than a 500 point loss is considered a "crash"
but this financial situation, and the inflated value of the overall stock market... we're going to see HUGE losses coming our way in the next few months
its gonna be ugly
Creepy indeed. I remember seeing that post some time ago. In all fairness, that post does CLEARLY predict a "crash in mid september of this year". You cannot possibly get any more "mid" than the 15th of the month. Hard to say he didnt nail it, dead on the money(pardon the pun) Today , the 16th is likely to be another day of huge losses as the imminent failure of AIG comes to the fore. I noticed all the asian markets were experiencing heavy losses over night as well.
Losing 500 billion in day seems pretty crashy to me! But then, I am just one of them po folks.
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