If you're doing the math on that, it's about 8% in 2 days.
Guess what? There's more to come.
We'll probably see about another 10% to 20%, maybe more.
We're seeing the consequences of some very bad policies, and it's only going to take a little bit more bad news to push it off a cliff.
It's like we're witnessing a looting that's taking place right in front of our eyes. On Wall Street, when the blood is running in the streets, short sellers are always behind the scenes cheering and waving pom poms.
The Fed doesn't really know what's going on. Panic mode is setting in. More banks are looking shaky.
People don't understand the severity of what's going. Greenspan just said we're witnessing a "once in a century event," and he's not talking about the good kind. He's talking about something really bad like, oh let's say the complete collapse of the U.S. economy.
Once a bank starts to unravel, panic ensues because that's where the money is.
The Dow could finally hit bottom around 8,000 or 7,000. What's going to stop it?
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