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Junu

would NOT happen:Yet many elbieve that a recession has already begun because credit markets have seized up. This pessimistic view argues that losses from the subprime arena are the tip of the iceberg. An economic downturn, combined with a weakened financial system, will result in a perfect storm for the multi-trillion dollar derivatives market. It is feared that cascading problems with inter-connected counterparty risk, swaps and excessive leverage will cause the entire house of cards, otherwise known as the U.S. financial system, to collapse. At a minimum, they fear credit will contract, causing a major economic slowdown.That exact thing happened. The article said A. Not-A occurred. I don't see how it could be more clear.What about the article's conclusion? Care to defend this:Dow 15,000 looks much more likely than Dow 10,000. Keep the faith and stay invested. It's a wonderful buying opportunity.The Dow is currently at 8,287.Seriously. Just admit you were wrong. The world won't stop turning.

Dave Tufte

Agreed.

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