Full Version: Buffett says USA in 'economic Pearl Harbor'...
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Lord do I hate agreeing with that as a possibility...
My only disagreement is that the market never dropped enough to reflect the recession and scam mortgages losses, both the market and housing dropping quickly to real value levels are good things and needed for a quick, stable recovery.
QUOTE(tomhye @ Jan 19 2009, 07:33 AM) 
My only disagreement is that the market never dropped enough to reflect the recession and scam mortgages losses, both the market and housing dropping quickly to real value levels are good things and needed for a quick, stable recovery.
Prices are based on earnings, and earnings are hard to predict. The market generally looks ahead 12 to 18 months, and as the 1Q09 data comes in, you will see the DJIA drop some more. I wish this could be over in a heartbeat, but like a train wreck, it happens slowly.
But it happens.
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