Wednesday, July 15, 2009
I told many of my friends what happeded in Japan in 1990 and told them how the Nikkei was down over 70%. Now it's almost down 80% over 20 years. I expect the S&P 500 to do the same. Japan had a huge real estate and credit bubble that popped just like we are going through here in the US. The Japanese had a higher savings rate and also didn't have huge deficits. The US saves barely 1% and we have huge deficits which aren't ending anytime soon. I can't understand how we would expect different results.
Saturday, July 11, 2009
Goldman Sachs doesn't want this to fall in the hands of another investment company because it will cut into their business. Goldman Sachs has helped create every bubble in the history of the world. Remember Goldman Sachs became a bank holding company to get taxpayer money just so they could survive.