I predict stock market crash two years ago...?

Question

I posted this question two years ago, everyone laughed at me, now we worry about this everyday...

How about the bank account and credit card?

Is it possible the banks will collapse, we can't use ATM, can't use credit card?

This is my second prediction, are you going to laugh at me again?

Answer 1

I find it very humorous that people should laugh at you. They look at the numbers presented by wall street, taking them at face value while the real valuations of the markets have seen terrible losses.

At its apex early last autumn, the SPX was up an awesome 95.5% in a mighty bull run that started way back in March 2003.  Over this entire 4.5-year span, the general US stock markets as represented by the SPX never experienced a single major correction.  Such a long span of time with a unidirectional prevailing trend is rare, as stock-market action is usually fairly cyclical.  Corrections follow uplegs and bears follow bulls.

As of last October the SPX is only up 2.5%(!) over its 2000 highs. General stocks have been a terrible investment over this period of time!

Kevin, like slowly turning up the heat to boil a frog, bear markets slowly whittle away your value and it is only at the end of them do people realize the terrible losses they have accrued.

To the peole who believe we are seeing a stellar "buy on the dips" opportunity, go right ahead. Watch your assets slowly crumble, all the while saying "this is the beginning of the next bull".

Look for the markets to trade sideways at best for the next ten years while I invest heavily in commodities, waiting patiently for the REAL opportunities to buy on the dips.

Answer 2

yeah banks find way thro govs cant live without them so dont worry

Answer 3

LOL!

Sure, and again and again!

Answer 4

I think you're a little premature... the stock market didn't crash. S&P is still HIGHER than it was two years ago. LOL!

Maybe you should be taking credit for the market gaining 60 points since your last dire prediction?

Kerry said we are in the worst economic times since the great depression... the problem was he said that in the "last" election.

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Edit:

I agree with you more than you think Justin, however the doom&gloom seers has been around for about 8 years now. So let's wait until it really crashes before we take credit for a downturn.

On the other hand the dotcom bubble was suppose to be the end of the world but we recovered nicely. I think this was TOTALLY due to tax cuts. However, even those don't work forever and we are now seeing our own government competing against us in the market place... specifically ethanol and the crops to produce it.

We don't want to get in the same shape Carter did when he ran around like a chicken with his head cut off trying to manipulate things instead of using commonsense that really did bring us to the worst economy since the great depression.

I'm not in this market and haven't been for a long time.

Soybeans, is where I would have been if I had enough money and wouldn't be looking for dips. It's a commodity all about weather in a small area.

Answer 5

The stock market crashed in 1986 and not too much happened. If you are not a heavy investor in this market, there really is nothing to be worried about here. It is actually nearly IMpossible that banks will collapse. The FDIC has us and all insured banks covered there. Im not laughing or making this up. Im serious.