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Tuesday, September 15, 2009

DOW 10,000 and California government bankrupt

The DOW 30 looks headed for 10,000 soon. 4% up from here is all it takes. That could happen by the end of September!

But California looks more likely to become more insolvent as time goes by.
When will the end come? I expect it some time in the next ten years. Business is fleeing the state, tax revenues continue to go down and "needs" go up. THe rest of the country is recovering but California is still falling. Where is the bottom?
And what will happen?
Things will go on but there will be many losers.
The losers will scream loudly.
Posted by at

1 comment:

bix1951 said...

Took a little longer than I expected. Closed above 10,000 onOct. 14, 2009.

I wonder when people really started to call this a bull market?

October 14, 2009 at 4:10 PM

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