I think he (Greenspan) is over exaggerating. I also think state governments will follow that over exaggeration. Now is not the time to be cutting jobs and pay, this just makes matters worse and puts even more pressure on the banks. Also much of this "panic" that has already been factored into the market and the certain degree of tolerance that has been leveled in is pressured even more. And as long as the window is open and the feds keep allowing easy access, finding a true bottom may take way longer than my Sept 10,5. It is pretty crazy out there. I know I am keeping a good portion on the sidelines. Who knows just how long this is going to take.
Do your research! Play the TA. All posts are my opinion.
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