Wednesday, July 1, 2009

The Potemkin Market

Big props to Zero Hedge on capturing this clip from Bloomberg.

"I have a feeling one day the door is gonna close, everyone is going to be running for the exits, there is going to be a major move in the market and everyone is going to wonder "what happened?" Ever heard a better description of Third Wave in a Bear Market?

This Potemkin Village they've built on Wall Street is going to collapse in a heap of anger and recrimination. Be wary. Be careful. Keep your eyes open, some cash at hand and be ready to ride the waves that will drown the fortunes of the vast majority of investors out there.


Greg B said...

"everyone is going to be running for the exits"

Yep, sounds like a Wave III. And to think that it is on schedule for this fall...

Have you seen this article on the US employment situation?
It goes way beyond the usual reported unemployment rate. Some stunning graphs of things like "Number of unemployed per Number of job openings"

My heart goes out to those trying to enter the job market in the next few years.

Flagg707 said...

I had not seen that report, Greg. Big thanks for bringing that to my attention. We will need some seriously creative thinking over the next few years to keep unrest and anger from getting out of hand...