Great Depression 2008

Are we in the "great depression 2008" era?

Well everybody knows the great depression of 1929, the stock market crash on October 29, 1929, known as Black Tuesday, the gdp sink into hell, the US government and citizen got themselves into the world of debt.......

US economy today really look similar to their 1929 counter part.

On may 30th 2008, the fifth largest investment bank in USA, Bear Stearns got into huge trouble and eventually got bailout by Jp Morgan with big help from Federal Reserve (30 billion). As a result, us stock market tanked.

Yesterday, US forth largest investment bank, good old Lehman Brothers, file for bankrupt as no bank dare enough to help him.

Second largest US investment bank, Merrill Lynch on the other hand also got them self in huge trouble.

Not only that, Washington Mutual, AIG, ubg and most of financial company all in huge trouble their share price going down like those WTC towers fell on 9/11/01.

I am beginning to wonder how can people still feel bullish about this stock market when the economy of the richest and most dominant country are like a third-degree cancer patient waiting to die soon. After all the bad news today, i am sure some people will feel positive tomorrow and start buying shares of financial because they feel "it can't go down any further. This is exactly like last week Freddie mac and Fannie mae bailout by federal reserve and people getting excited and started to shop.

Well i warned those people who bought shares on the day fre and fnm got bailout and look what happen, they stuck with their shares at least until mid 2009 or they can choose to end the pain fast and sell to other bullish (or should we say stupid) person.

Here's my opinion: don't buy anything that generate their income through stock market, derivative, foreign currency exchange or any other type of financial market in this world. That includes investment bank, commercial bank, insurance company, hedge funds, unit trust company etc. For me, the only large US investment bank that is safe from "great depression 2008" is Goldman sachs simply because the hold financial market in US are controlled by ex-GS staff. So watch out for the second largest, merrill lynch and third largest, margan stanley.

The US economy are sinking to hell and why u still wanna buy shares? you may end up holding shares of worthless company with no money to even buy a dinner for yourself. So stop the bullish nonsense and get out fast before you are eaten!