My new career as a market forecaster lasted all of one day, as the S&P closed just under 700 today, nearly immediately trashing my prediction. Good thing I kept my day job. Is the end of the crisis here? Have we reached a bottom? Nobody really knows, since even in the Great Depression there were many "signs" that things had turned around, even in the first year of the 1929 crash. So even though Obama declared that now's a good time to buy stocks, we really won't know for a while. The DOW is down over 55% from its highs, second only to the Depression, when it fell 89%.However, there are those that claim that this is the beginning of the end of the world of we know it, and that we're on a permanent downward pace, with all the inflated money supply, limited resources, and the such. I say that's all bunk and will go into detail in a future post. For those who don't want to wait, here are the key points (loosely borrowed from Wikipedia):
1. Necessity is the mother of invention
2. People are greedy bastards, and if they can get rich by solving the crisis of the day, they will.
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