Some hack on CNBC is saying this is the bottom...

[CoffeeCat]

...of a bear market.

I'd like to take that piece of scum and strangle him.

How can anyone say that this is the "bottom."???

We're in the middle of a massive crisis, and we're only dealing with the Wall Street end of it.
The Main Street side hasn't even been addressed. Main Street hasn't realized 1/10th of the impact
from this crisis.

Holy buckets! You really have to fend for yourself and conduct your own due diligence, because
even the standard finance talking heads are full of baloney.

[marmar]

1. CNBC is an altered reality universe.....

n/t

[Warpy]

2. ROFL! "Come on suckers, these are BARGAINS!"

The market has been wildly overvalued since the 90s and we all know it. We don't know where the floor is.

[lonestarnot]

3. You put it so nicely.

Buckets, baloney. Good. Bullshit bad! :) :hi:

[CoffeeCat]

8. I know...

If I let loose, I'd be swearing like a longshoreman on acid.

:hi:

[lonestarnot]

9. Sort of like me!

:hug: :hi:

[Schema Thing]

4. Yeah, but I'm about to have to talk to my mom's broker...

...and I know he's gonna say the same thing.

[CoffeeCat]

6. I wouldn't believe ONE DAMN THING...

...a broker has to say!

Most people in the financial industry--are scared as hell! They're scared of losing their jobs.
They're scared of this crisis, and you can damn well bet that they've all been in recent meetings
where they are TOLD that they WILL toe the line and ease fears.

These people don't make money when they tell the truth. They make money when they sell something
to you.

Everyone knows this, but geez--more than ever we have to look out for ourselves!

I looked up my bank on bankrate.com--and it had a very poor rating. I asked a vp at the bank about
the rating and she was incredibly obtuse. Claimed she didn't know what bankrate.com was. She gave
me a tap dance about how great the bank was capitalized.

What a load of bullshit.

Folks, people need to stop relying on "experts" in these industries. I'm including myself as well.
We're conditioned to trust others with our money and to rely on the experts to hash out the details.

It is dangerous to do so in today's crisis.

[On the Road]

5. People Call the Market All the Time

most of the time they're wrong. Don't be too upset.

[CoffeeCat]

7. I guess there is a sense of...

...increased vulnerability right now. I'm concerned about me, but I'm more worried about the
little old lady who is living on a fixed income and wondering what is going to happen to her
savings and limited investments.

Many people believe that if a talking head on tv says it--then it is true and good advice.

I'm really astounded by the amount of intentional placating that is being done right now. The media,
politicians, and the entire financial services industry is hell bent on keeping all of us calm--in
order to preserve their own self interest. They're not telling us the truth about what is going
on and what could happen.

I understand people "call the market" all the time. However, it's a little more alarming right now,
because we're in a crisis and people are more vulnerable to bad advice, because they're worried.

To "sell" stocks--and to position our current situation as "a great time to buy" is disgusting,
in my opinion. Not right now. You don't sell that bullshit right now. Especially when we
have no idea where the bottom is.

[On the Road]

12. On an Individual Level, People May be Making Wrong Decsions

based on a stray comment like that. You are correct, although I hope the number who do would do that is small.

On a larger level, I would not want to hear people panicking on TV. It's like preventing a bank run.

[ProfessorGAC]

10. All We Have To Do Is Say That Every Single Day

Eventually we'll look like Nostradamus.
The Professor

[gravity]

11. How can you say it is not the bottom?

If you know the market is going to go down, then short it and make money.

[tama]

17. Shorting was banned n/t

[lpbk2713]

13. We won't have any idea of how bad off we are until after January.

We will have to have access to all the relevant facts and figures that BushCo has been hiding from us so that we would not have a true picture of how badly he has screwed up this country ... and how badly he screwed us in the process.

[Javaman]

14. morons like this guy always go on record as saying such stupid things so they

can be the first to say "I told you so".

It has nothing to do with reality or facts.

[many a good man]

15. The typical recession bottoms out at 30% fall from stock mkt high

We'll find out how typical this one is.

[Renew Deal]

16. We're on the way.

I think we're at around 24% for the calendar year.