Expect 1800+ Point Drop Tomorrow!
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Mar 25, 2008 11:19 pm
More doom & gloom.The Icelandic Central Bank just raised interest rates to 15%. Analysts expect widespread foreclosures and a steep drop in the price of igloos. Given the historic correlations between Iceland's market and the Dow, and the fact the many large US money center banks hold igloo mortgage paper, many analysts suspect this will be the final tipping point into insolvency. Also, the Fed has announced that it will not buy igloo mortgage paper; thus, creating additional capital problems for the banks. Well, I hate to say it, but I told you so. In numerous posts, I have said that igloo paper is cr*p and nobody listened. Scaremonger, nutjob is what you called me. Well......who's the nutjob, now? http://www.bloomberg.com/apps/news?pid=20601068&sid=aUg1HvugYbfw&refer=economy
Dobe, regardless of where the market goes, you’ll always be our favorite nutjob…
Sorry Guys & Girls. In retrospect, my post wasn’t funny at all. Blame it on my allergy meds.Geeesh, no wonder Letterman doesn't return my calls.
Doberman–I’ve got some good meds at the house that will raise the sky for you–its been two days and you are no where near dropping 1,800 points! Never mind I’ll take em!Hope they wear off before Monday!