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Was the Bear Sterns bailout the canary in the coal mine or
Was the Bear Sterns bailout the bottom of this fallout ?
Me, I'm leary that we have hit bottom and are on the way up.
I think it's because all these complex investments that are losing value were kept off the books; institutions are borrowing billions from the Fed each day and every CEO/CFO says their company is fine.
So, I think I'm going to go with Canary in the coal mine. AND I sincerely hope I'm wrong..but the numbers and articles I read each day don't point to it.
I hope so. If this is the bottom, the United States will never be worth living in again. We need a hard crash, to level things out and put people back in charge of their own lives.
Definitely CANARY! Most folks I speak to think this is about subprime mortgages. That was just the catalyst. We are now into prime mortgages and home equity loans. Coming on strong is auto loans and credit cards. Unemployment is way over 5%, despite what the financial media are spouting. No income, no outgo. Most def need a thorough shake-out. The wind hasn't even picked up yet. Bear Stearns will seem like nothing soon. Keep an eye out for Lehman Brothers, UBS, Morgan Stanley, Citi, and who knows who else. Nothing would surprise me - except for this to be the "bottom"!
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