Quote:
Originally Posted by jayswin
I personally think we're at the beginning of a reckoning in North American (world really) working and spending and anyone looking for a near future bottom is playing a fools game.
With the massive death totals coming to America and the inability to crawl back into a regular functioning society because of that death, we will likely see a 5-10 year crawl back to what we knew as American consumerism, if it ever comes back at all.
What I predict is a massive drop (which we've already seen) followed by a bunch of little drops that keep the market slowly sliding to points people thought it could never drop to (while waiting for it explode up) and then eventually the stock market will be known as this thing that people used to make money on.
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Strongly disagree.
I vividly remember 9/11, as it unfolded on our screens right before our eyes. Digesting the consequences as it unfolded, we all agreed that the world had changed forever - that people would stop travelling, completely stop flying, and that our western way of life was under an attack of war.
And though the world DID change forever, normalcy returned, and people got on with their lives. And after a while, the markets were setting new highs again.
Basically, the same story can be told with every global crisis. Every single time, there are many who predict that the world as we know it is over. And every single time, normalcy returns, and the markets eventually set new highs.
This too shall pass.