Sunday, March 08, 2009

The way of the world.

Oh I get it now the jobs summit must have come up with this idea that we return to the previous honours system. This will avoid massive unemployment by creating substantial numbers of new jobs. I take everything back I thought the job summit was going to be a complete waste of time.
Meanwhile Lloyds Bank yes that is Lloyds Bank has been nationalized in the UK. No need for people to buy shares anymore everybody owns the company now anyway. You can buy citigroup shares for less than 1 dollar in USA but I wouldn't rush into it as they are still overpriced. I was so disappointed that noone put a comment on my blog but now I realize it must have been a bit too raw for people. The real estate industry is still forlornly trying to talk up the housing market principally thru the pages of the New Zealand herald. Interesting that the idea of a daily printed newspaper in the US will soon be over. This housing bullshit is a repeat of what occurred in the USA where the NAR national association of realtors tryed to bullshit everyone into buying houses. Eventually they gave up.The US sharemarket is now 56% off its 2007 peak. In the 30s the Dow jones went down 90 % over thirty months. Presently the sharemarket is well over halfway there with another 18 months to go. My prediction is that this time the whole sharemarket in the US will be wiped out completely. Yes 100% gone. Ours will do the same. Dont be sucked into any suckers rally on the sharemarket or the housing market.You will regret it severely. Houses here are way overpriced.Remember it was cheap money that created this situation in the first place.Now they want to give money away again so people will forget the size of the debt they are taking on.

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