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Stay away from stocks, major stocks can have the same fate as AIG – nationalization is the only hope for big companies as depression goes deeper
Bernie Snyder
Oct. 19, 2008
The Dow Jones Industrial Average is headed below 6,000. In the process major American corporations will be nationalized. No one will call it nationalization because that sounds socialism but that is exactly what happened to AIG. It will happen many large corporations. Obama or McCain will make no difference. Just like under George Bush, McCain will give in faster because of the panic.
AIG after nationalization has started performing just like those Government controlled corporations in socialist countries. They are failing to mail the insurance cards to car insurance clients. The service is just not there.
Stay away from stock as far as possible till Dow breaches 3,000 and builds a base between 1700 and 3600 for more than two decades.
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