Monday, March 17, 2008

Oh how I would love to own a bar on the south end of Manhattan tomorrow



A graphic projection from Elliot Wave (requires subscription).


Bernanke cuts the interest rate to .25% on a Sunday night.

Bear Stearns is acquired by JP Morgan for $2/share on a Sunday night.

Gas tops five dollars in Cali over the weekend.

May be time to stock up on the canned goods. Hurricane season is a couple months away anyway, so why not?

If there is a run on one of these investment banks, the rest will fall like dominoes. I guess the good news is that most of us are more heavily sedated than we were back in 29. Let's hope the Paxil doesn't run out.

2 comments:

droudy said...

Sounds like the best investment of all.

This is just the beginning, unfortunately.

Do you get the feeling that J.P. Morgan Chase is trying to buy the country?

Dambala said...

Yeah I do. You know Morgan was responsible for the first run on U.S. banks. I wouldn't be surprised if they're behind the second.