Replies to post #616647 on Zeev's Turnips Patch-No Politics (ZEEV)

[Alex G]

Between 40 and 45 percent of the world's wealth has been destroyed in little less than a year and a half

wealth created out of thin air, the chickens come home to roost

the pendulum swings back and forth

[zab]

I have stayed quiet these past few days, I just have nothing relevent to contribute at this time, except the realization that no matter what all of these Financial Wizards do, nothing is actually helping the markets or solving the problems that face the global community.

STLD one of the steel stocks I follow intently reported lousy earnings this morning, and cut 2009 estimates, I imagine the entire steel sector will take it on the chin.

FRE and FNM need more money to make up for all of there losses, the Public owns it, so I guess all of us loss on that deal.

Everyone will be discussing the Madoff story today, so the Accounting revisions might go to the back burner. That one day rally was enjoyable, but the reality of the economy and what is still unfolding in the news still overrides everything.

IMHO this market is still going lower.

zab