Quote from day7793:
Crash the sucker into a wall. But oh no they always prop it enough to trap mom and pop investors and than they milk them down. I wish we have a major crash tomorrow and all this selling and buying will cease for months to come. Wish that can materialize.. it will be Gods gift to our budding doom and gloom audience in America.
Thank your Fed Chairmen, the Member Banks and PPT for that.
This whole fuck-up rests squarely on the shoulders of economic bearucrats who felt it necessary to blow the biggest credit bubble the world has even seen.
Now the hangover is setting in and all the pansy-ass bulls who couldn't tell M3 from a BMW are puking their guts out. Case and point, you (no offense).
Yes, we do need a clean out to arrest inflation and housing excesses.
In the process, a lot of Tier A banks (Citi? UBS?) and American homeowners would literally get creamed.
But fuck'em. I agree. Fuck them.
Capitalism doesn't work when theres no beat down for poor judgement.
Banks are shit scared - they're a few foreclosures away from insolvency.
Look at the write downs at THESE LEVELS - home prices are still 37% higher than 2001 !!
If banks puke en masse, prices will tank and so will their balance sheet.