I made it clear back on 31 July that Cramer was high for calling a bottom in stocks (please replay the CNBC video clip and judge for yourself if Cramer is out of touch or is trying to snowball you). As of 10:30 a.m. central time, the DJIA is down 339 at around 10,719, below the 15 July lows.
If you aren't moved into safe harbor financial products by now, well, either do it now or get ready to suffer some significant pain.
Lies or Mistakes by the Experts
- Stocks won't retest the July 15th lows
- House prices never go down for long
- U.S. economic fundamentals are sound
- The U.S. financial elites believe in the free market
- Deficits don't matter
YOU have to take full responsibility for judging events. We are in a transition period. The experts are in no better position than you to gauge events. The experts are actually in a worse position to deal with this new world, their egos are bound up in all this knowledge they think they have.
The lies will continue. The elites will continue to try and steer your thought patterns in directions they want them to go. This may not necessarily be the best thing for you and your family. Look beyond the media and the email chains and the message board propaganda. A world of hurt is coming our way. Be prepared.
UPDATE: This is ominous. Pressure is building on the pristine "AAA" rating of the United States after a federal bailout of American International Group Inc, Standard & Poor's sovereign ratings committee chairman said on Wednesday...