Ilargi: Stocks are plummeting once more all around the world, and if you think that trend will stop anytime soon, then you haven’t been paying attention. As long as there is maybe $1 of real money for every $25 dollars (or $100, or $200) of funny virtual money, stocks have a long way left to fall. Especially since what little real money is left tends to stay away from the crap tables.
And that is what the exchanges, make that the entire economy, have become. As Deepak Chopra put it, ".. less than 2 percent of the $3 trillion to $4 trillion that circulates in the world's markets daily is used for goods and services. The rest is trying to make money off money.[..] Our financial structure which, of course, is an American system but is now global, is pure speculation. It's gambling."
Read on...
Peacenik watches the tv bubbleheads predicting the bottom then reads Ilargi. Peacenik wonders if there is a bottom.
