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Old 10-08-2008, 01:57 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,893,532 times
Reputation: 8068

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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.

Quote:
[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 )
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Old 10-08-2008, 06:00 PM
 
Location: Backwoods of Maine
7,320 posts, read 9,044,348 times
Reputation: 20128
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.
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Old 10-08-2008, 06:09 PM
 
706 posts, read 1,207,326 times
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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"
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Old 10-08-2008, 06:11 PM
 
Location: Great State of Texas
86,068 posts, read 76,940,696 times
Reputation: 27653
We can see they are throwing money at the problem..not solving it.
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Old 10-08-2008, 06:14 PM
 
Location: The Great State of Texas, Finally!
5,380 posts, read 11,263,161 times
Reputation: 2524
Quote:
Originally Posted by HappyTexan View Post
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!!
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