Roubini: Rate Cuts Reduce Crash Risk, But Dow 7,000 Likely 'Sometime Next Year' (money, financial)

[Woof]

Who would have thought that Roubini would turn out to be such a polyanna? But if he's right, at least it's not total disaster that awaits us, at least there's a bottom in sight.

[SIZE=3]Posted Oct 08, 2008 11:06am EDT by [/SIZE][SIZE=3]Aaron Task[/SIZE][SIZE=3] in [/SIZE][SIZE=3]Investing[/SIZE][SIZE=3], [/SIZE][SIZE=3]Newsmakers[/SIZE][SIZE=3], [/SIZE][SIZE=3]Recession[/SIZE]
Related: ^DJI, ^GSPC, ^IXIC, SPX, DIA

Today's global rate cuts have reduced the risk of a market crash, but won't resolve the underlying crisis, says NYU economist Nouriel Roubini of RGE Monitor.
But the financial market crisis has unfolded even quicker than Roubini expected (which is saying something), and the economist now thinks the Dow and S&P will suffer 50% declines from last October's peak vs. 40% previously....... (continued at Roubini Rate Cuts Reduce Crash Risk But Dow 7000 Likely 'Sometime Next Year': Tech Ticker, Yahoo! Finance )

[Nor'Eastah]

The way things are going, we could see Dow 7,000 before the end of THIS year.

Richard Russell predicts the Dow and gold will cross at 3,000.

[jimmyP]

I would venture that 7,000 is an optimistic bottom but let's hope. I trade with some people who are thinking more like 5,000 but it's all speculation at this point.

Roubini has been remarkably correct thus far. But as they say "past performances are not always indicative of future performance"

[HappyTexan]

We can see they are throwing money at the problem..not solving it.

[cobolt]

Originally Posted by HappyTexan

We can see they are throwing money at the problem..not solving it.

When has the Govt throwing money at a problem EVER solved it? Think education, welfare, etc etc....This is just money wasted. ANd we're to trust THEM to best spend it? Isn't it OUR money? Shouldn't we know how it will be spent? Shouldn't we have had some say? I don't know. I need a drink!!