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[Stock Lobster]

GM. Yes, very interesting...but hardly anything we here didn't anticipate...

but then again none of the people I knew have been believing that the stock market had really recovered. The first warning shot was last spring, and what we've had have been a few nice opportunities to stockpile some cash waitng for the market to head to an inevitable decline.

How could it be otherwise? The subprime issue is no minor blip that came and went in July. This is a grade A crisis that impacts all the other parts of the US economy. Add to that oil at $100/barrel, and you have what I have been predicting for three years: "the perfect economic storm"

The 90 foot wave of bad debt, personal, corporate and federal, is about to engulf the US economy, and it is probably going to change the way we live.

The rest of the world won't be immune from the ripple effects, depending on how closely their economy has been tied into the US economy. It's hard to predict exactly how it will play out...and I'm certain I won't enjoy watching much of it (but then again, I've always been squeamish about seeing blood)