A year ago Wall Street was celebrating the fifth anniversary of a bull market that had created $10 trillion in shareholder wealth since 2002. The Dow Jones IA and S&P 500 hit all time highs on Oct 9 , 2007.
One Year Later , this current bear market is one of the worst in modern American history and has wiped out more than $7 trillion in shareholder value , with no end in sight.
The Housing & Lending Crisis has Toppled Giant Banks and Financial Institutions , drying up the availability of loans and credit. Without that money flowing into the economy , a rally in stocks is unlikely. Your Wealth is Under Attack from the Federal Reserve.
The only time the general public gets cheap stocks is when the world looks awful – the falling price of stocks has raised potential long term buying opportunities.
With a worsening economic situation in Europe , investors have been selling off pounds and euros and buying up US Dollars. The euro on Tuesday was trading at a 14 month low of $1.35