Wednesday, September 23, 2009
facts...
Not long ago, high gas prices and the price per oil barrel was out of control. Gas prices went over $4 and that was suppose to drive us into a recession... well we did go into a recession, but not because of gas. A housing bubble burst because greenspan made borrowing money almost free, artificially pumping up house prices, giving loans to people who couldn't afford them, and predatory bank practices ie mortgate lenders working with appraisers, arm's, sub-prime, baloon rates, speculators, and investment banking didn't help with credit-default swaps, derivatives, and leveraging to the hill. Now we are borrowing and printing money out of control. For the US $$$ does grow on tree's... next worry will be inflation. How long will this rally last? How soon will people forget about the deleveraging of the banks and the financial doomsday of the credit market. What has been the reason for this rally? How much farther can we go? Did we oversell? Are we now overbuying? What will the DOW/S&P 500 hit by the end of the year...
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