I always thought that the market we witnessed these many years was in fact an equities bubble. I got everything out of the market (an IRA, a 401K, and what equities I purchased myself) just after the DJIA hit 10,000 for the first time). Nobody's calling this a correction yet, but that's what I've always thought it is.
The banking crisis is a separate matter. It's as if bankers themselves have stopped believing in their own business model.
Also a separate, though it's all related, matter is the underlying softness of the US economy and the ongoing conservative assault on the middle class.
In other words, a lot of chickens are coming home to roost. "It Can't Be Just About Us"--Frank Schnittger, ETian Extraordinaire
It's as if bankers themselves have stopped believing in their own business model.
enter chris cook stage left..oops, he's off enlightening the iranians!
you're going to be an even busier man, chris. ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
