Today there will be much bruhaha hoopla blather wailing and knashing of dentures on Wall Street.
Mudcat prophets called this one over a year ago.
{{{{However anytime you gather 30 or more people together to venture a guess on something like how many beans are in a jar, the averaged result will be virtually spot on. There is truth in numbers... but not statistics.}}}}
Today the market will take a wild ride but at the end of the day 500 to 1000 point drop on NYSE or DOW will be all. While pundits are openly calling for a 1930 world wide event what we will witness will be a slow motion version due to electronic halts and trillionaire infusions as well as another 3/4 drop in prime interest rates.
The idea of giving everyone 1,600 dollars to spend come next June would help the economy but inflate the monster in the basement which is the most immense debt ever incurred by any country in the history of the world. The world Market decided that the Bush economic relief plan is just like his other plans, everthing he touches turns to ashes and dust. GWB is sort of the anti Midas, except for defense contractors and oil.
So lets can our jams and jellies and stoke our cottage industries and welcome the transition years in good cheer.
progress report:
Will lose two wars for the price of 3.. check
US market crash check
brainwash citizens to the rip off as if its patriotic. check
make science the boogyman so that intelligent designs will blind many to what their lieing eyes see. half/check
Note some here, if you see other good or bad mudcat predictions bearing fruit.