Damon Vickers of Nine Points Capital spoke to CNBC this morning about his belief that we’re heading towards another downturn the size of 2008, and that the plunge protection team is what is saving us.
- 1:15 Real estate is going to be going down for many years, and the savings rate is of concern. The public cannot sell real estate because the market is bad, but they can sell stocks.
- 2:25 Financial service stocks are a bit overpriced, and the plunge protection team is saving the market.
- 3:30 It’s common knowledge that the government comes in and buys when the market is weak.
- 4:45 This is a bear market rally, it should be sold.
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