Quote:
Originally Posted by speeder
About 2-3 months ago, Tabs started a thread predicting that the stock market would crash in the near future. Not trend downwards, but crash. I think that there was a supporting article or link, can someone find that thread and post a link to it here? The problem searching is that he starts so many threads. I got dizzy looking.
I could not get anyone to listen at the time, but I believed him.  |
Tabs predicted a crash 2-3
months ago?
In September of 2007 (that's over a
year ago), when Country Wide Financial was in trouble, "turbo6bar" posted:
Quote:
CFC down 14% in after-hours trading.
Mercy, this meltdown is incredible. Freakin' unbelievable.
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To which I replied:
Quote:
You ain't seen nothing yet!
Wait until the end of 2008.
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http://forums.pelicanparts.com/showthread.php?p=3419155#post3419155
The mortgage resets taking place in the second half of 2008 is resulting in massive defaults which is tanking the financial industry, which is freezing the credit markets, which is putting the downward pressure on the stock market.
There is no sort of "magic" involved in making the forecast; just an understanding of what is happening in the economy and markets.