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WUT?!? Random CEO on CNBC predicts Dow Dive to 5K by 4Q

 
Anonymous Coward
User ID: 969382
United States
05/13/2010 10:10 AM
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WUT?!? Random CEO on CNBC predicts Dow Dive to 5K by 4Q
What is going on? David Hefty Conerstone CEO calmly said during a CNBC interview this morning that the Dow will peak at 11k-12k in June and then end up at 5K by the end of this year. He stated the market is in complete denial and will go into complete free fall because:

1) Second quarter GPD will be disappointing
2) Forclosures are going spike to record levels this summer
3) China is another Dubai but much larger, they have brand new cities built for millions of people that are half full
4) US Financial system has 13 Trillion in leverage and only a handful of hedge funds need to make margin call to initate free fall.

Common knowledge stuff, but so weird to see it all laid out there in the MSM by an insider. The squawk on the street spokesmodels looked horrified, like someone farted in thier church.
Anonymous Coward
User ID: 968267
United States
05/13/2010 10:13 AM
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Re: WUT?!? Random CEO on CNBC predicts Dow Dive to 5K by 4Q
What is going on? David Hefty Conerstone CEO calmly said during a CNBC interview this morning that the Dow will peak at 11k-12k in June and then end up at 5K by the end of this year. He stated the market is in complete denial and will go into complete free fall because:

1) Second quarter GPD will be disappointing
2) Forclosures are going spike to record levels this summer
3) China is another Dubai but much larger, they have brand new cities built for millions of people that are half full
4) US Financial system has 13 Trillion in leverage and only a handful of hedge funds need to make margin call to initate free fall.

Common knowledge stuff, but so weird to see it all laid out there in the MSM by an insider. The squawk on the street spokesmodels looked horrified, like someone farted in thier church.
 Quoting: Anonymous Coward 969382

I heard it too, I was typing on the puter and then heard him say it. The pukes of cnbc looked on their script and said to themselves "hey thats not on the script"
Anonymous Coward
User ID: 60597
United States
05/13/2010 10:14 AM
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Re: WUT?!? Random CEO on CNBC predicts Dow Dive to 5K by 4Q
Its becoming crystal clear.....

Anybody with a pulse should at least prepare , however they can, for the next few years......

Its not the end of the world but its going to get pretty close.


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