Image via WikipediaOn octaber 24th The Hidden News predicted the Dow would hit 7000. Well folk, It's almost there and still dropping. Had you payed attention then you would have saved a boat load of monney, but were not here to tell you I told you so.
The Dow is likely to hit 6000 before this mess is over as Tech Stocks take a major hit. Tech stocks will come back though. The keys is to dump stocks buy bonds which have out performed stocks and sit tight.
This crisis is far from ober. It is just begining. As Credit Card Compnies indiscriminately raise interest rates on people the default rate will triple. People who were good credit risks will suddenly lose the ability to make payments. People who were bad or average credit risks will default like mad. There will be no amount of money the government can invest in the banks to save them at that point. They will simply fail.
The banks have chosen their own demise buy following this policy. They will force people into bankruptcy at unprecedented levels by making them unable and unwilling to pay off their Credit Card Debt.
In the mean time Congress is sitting on their hands, because the banks own them. They are so afraid of the banks they will let the econommy suffer a nuclear disaster. This is the beginning of the end folks. Get a safe. Go to a credit union, but get your money out of the banks. If you own stock you are toast. Sell it for what you can get. Liquidate all your assets if they are affected by a major bank and sit on it. Roll your 401ks into iras and run I repeat run from anything to do with a bank that offers credit cards, because once a person defaults on one credit card the rest follow like dominoes. Expect the Dow to drop to 6000 maybe even 5000.
The govenment, the media, and the stockmarket would have you think that a panic is going on, but the real story is the market is about to hit lows that can't be predicted and can not be comprehended. The Dow could simply fold, since it is only based on 30 high performing stocks. If the dow folds, it could take the whole market with it.
The result of this could be a depression deeper than the great depression and even a decade of economic failure and misery.