Daily Archives: 2009/02/28

Stock Market 12 Year Low C BAC Common Shares Worthless

DJIA 7063 and S&P500  735 with Citigroup [C] at $1.50 and Bank of America [BAC] $3.95 a Share. We’re Moving Towards ZERO. Need I say more? It’s The End of The World As We Know It. Peter Schiff says the Common Stock in both Citi & BofA are WORTHLESS.

“…the credit crisis , coupled with tumbling home and stock prices ,  produced a paralyzing fear that engulfed the country – a freefall in business activity ensued , accelerating at a pace that I have never before witnessed. The US and much of the world became trapped in a vicious negative feedback cycle. Fear led to business contraction and that in turn led to even greater Fear.” – Warren Buffett

The economy will be in shambles for the rest of this year as financial firms take losses tied to reckless loans made during the housing boom.

You can wear last years clothes – You can’t eat last years food! Cheap Is In. Be Cheap. The American Consumer Understands.


Filed under Abundance Wealth, American Economy, Big Business, Crooks, Dead, Everything is Connected, Federal Reserve, Financial Crisis, Gold Dollar, IMF World Bank, Jim Rogers, Money & Power, News by Photos vBlog, Peter Schiff, Rich Man Poor Man, Stocks StockMarket, Survival of the Fittest, Uncategorized, Wake Up People, Wall Street DowJones