Here's an easy to predict headline -
Reuters: Stock futures point to lower open on Wall Street
Consider AIG, the mega-sized insurance corp., it has posted a $60 billion dollar loss.
I have a very good friend who has an IRA primarily invested with AIG. He is in his 60s, is self-employed, and he has no other retirement investments, no home ownership either. This is tragic. Its not just him, its many, its multitudes.
America is a lot poorer. Now one question that arises is this. If there is a massive rejection of Obama's stimulus and bailouts among America's elite financiers, then at what point will these huge investors, the groups that can completely affect the directions of the markets, at what point do they capitulate. Somebody in that group has to give in.
Right now there is no reason to believe that the above headline will change from day to day...
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