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.
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2 comments:
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?
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.
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