Are the markets about to crash?

[DK Matai]

Good Evening!

Are the markets about to crash? Given the apparent ineffectiveness of
QE2 reflected in treasury yields; Eurozone crisis coming to a slow
boil; and US and China at loggerheads at G20... What are your views?

Best wishes



DK

DK Matai

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[adamsunshine]

Well I can't recall the name of the gentleman I saw on squawkboxeurope
a couple months ago who said it was likely the US markets would be
volatile for a few years, with swings up and down of up to 40%. That
struck a resonant chord with me. Unless one is an active trader it
seems the best wisdom, and a view traditionally recommended by a
financial advisor who cares about you, is not to have any money in the
markets that you think you may need within the next 3-5 years. That
pretty much leaves most of us out of the game except for some small
retirement investments about half of us Americans are hoping will keep
us out of poverty. If markets crash again the poverty rate will
undoubtedly climb in the US.

US housing markets are still pretty grim for the most part. I heard
somewhere that there is up to 20 million empty homes now in the
country. 2010 is the biggest year for foreclosures yet but that story
is fading behind other noise. There are enough empty homes to house
all of America's homeless, illegal aliens and probably all of the war
victims who would like to leave Iraq and Afganistan. On the positive
side poverty still is not as bad as in the 1930's although it could
become such if the Food Stamp program (which helps feed 50 million, or
about 1 in 7 Americans) is cut, or other social programs are gutted by
those who prefer to punish the weak.

So DK, where did all those trillions of dollars go that were part of
the huge casino economy blackhole? Where are they hiding?

[DK Matai]

China's stock market has lost -9.3% in three days. Remember our
question from last week? Are the markets about to crash? http://ow.ly/3apzP

[DK Matai]

What a surprise? Not! All asset classes - stocks, commodities and
bonds - tumble amid Asian inflation and Euro debt fears http://ow.ly/3aFX1

[adamsunshine]

well perhaps you are right in some ways. Paul Krugman seems
particularly gloomy in this op ed:
http://www.nytimes.com/2010/11/22/opinion/22krugman.html?_r=1&partner=rssnyt&emc=rss

and another opinion and view of recent history

http://www.alternet.org/story/148941/matt_taibbi_on_deluded_tea_partiers%2C_ayn_rand_and_how_the_u.s._is_like_the_soviet_union?page=1

One of the better sides of the economic upheaval is that I have
noticed for several years now that there is a softer, kinder method of
communicating among people of all types, classes, etc. Then we all
have our moments of utter confusion/chaos & loss but there is a living
presence that is palpable, re-forming us as we breathe.