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Originally Posted by SimNut
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Originally Posted by SUBMAN1
Here is some good news for ya - We have had what? 10 financial crisis since the 1960's that are similar to today (They all did a market drop of well over 10%). You might remember some from the 80's - Savings and Loan bailouts. 90's and into 2000's the Enron's and what was the other? Worldcom? I forget. No one will remember in the next 7 years what those were either since we will be worried about the newest worst disaster in financial history. Nor will we remember those in an additional 7 years.
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Those were speed bumps, headlines, a few bad apples gaming the system. What we're looking at today is a failure of the entire system. 700 billion bandaids isn't going to fix it. I think you're right in one respect. Seven years from now we'll look back on it, but we'll be looking back at "the way things used to be" and glad we got away from the old world ways of finance. What will the new one be? Hell if I had that answer, I wouldn't be sitting here typing this.
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That's just the crap they are feeding you and you are buying it hook line and sinker.
-S