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Originally posted by Vitchilo
A very interesting article by John Galt... IMO most of it is BS... but it would be epic doom if it happened...and I like epic doom.
So here it is:
We are doomed:
S&P 500 -1
High for the day on the SP500 was 1,111.10.
[edit on 18-11-2009 by Vitchilo]
Société Générale has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.
Under the French bank's "Bear Case" scenario, the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.
Governments have already shot their fiscal bolts. Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. Worldwide state debt would reach $45 trillion, up two-and-a-half times in a decade.
Originally posted by TrainDispatcher
Question for you housing market guys/gals.
I was looking at a house today and seen it was listed for $150,000.00. When I went back to look at the history of the house. I seen it was sold to the current owners in 2006 for $240,000.00
Do any of you believe that the housing market will continue down / get worse?