US Stock market in third wave bear market can lose another 15% this week – S&P already down 2% even before Monday opening
Fred Day
Oct. 5, 2008

Standard & Poor's 500 Index futures expiring in December fell 18.2 points, or 1.6 percent, to 1,090.1 at 9:25 a.m. in Tokyo. The benchmark index for U.S. stocks tumbled 9.4 percent last week. Some analysts are predicting that the stock market worldwide is in severe crashing mode – third wave drop in a bear market. The markets can go down as much as 15% this week as most investors move their money into the sideline. Money markets will gain the investments with $250,000 insurance on FDIC deposit now.

The spread between Fed Funds rate and Libor rate is expanding further more showing increasing risk in lending. There is no money available to lend, says many debt-servicing analysts. This will create deep depression in US which will transmit into nasty multi decade global depression.

About $20 trillion in value has been erased from stocks worldwide in the past year. The MSCI World Index of 23 developed countries lost 28 percent this year, the worst annual performance on record dating back to 1970. Investors in the U.S. face their first annual loss in six years after the S&P 500 dropped 30 percent from its October 2007 record.

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