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Where We Are Right Now…

Right in front of our eyes we are witnessing the most serious threat to our financial system in 70 years, and anyone that tells you that it’s almost over is either guessing or just hoping. I’ll go so far as to say that I belie ...

Posted On October 27, 20086 MIN Read
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Right in front of our eyes we are witnessing the most serious threat to our financial system in 70 years, and anyone that tells you that it’s almost over is either guessing or just hoping. I’ll go so far as to say that I believe CNBC will face a huge class action lawsuit in the coming days and weeks, and that they stand a very good chance of losing this landmark case. So, what’s the case? For those that watch the network you likely already know where I’m going with this. For those that don’t watch CNBC….don’t use this as an excuse to begin doing so now. So here’s the deal: Every day during this 40% decline CNBC has had their cheerleaders on TV pumping the markets up. Seemingly every single guest they bring on says something like “there are incredible values in the stock market”, or “those that are buying now will wind up with huge bargains”. I believe they are very, very wrong, and that they contributing to the massive losses that investors are chalking up. Sure, every now and then the...

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