This downturn could be temporary, like in 1987. But remember then a lot of margin calls caught people with their pants down and they had to sell at rock bottom only to watch the stock recover within days. That could happen again, and in fact, would be surprised if it doesn't. And that almost certainly means volatility increases and many of the zombie companies are going to go under or dissolve. And it probably means that there will be more layoffs as companies shed employees and cut expenses. I think 3rd Q results will be grim and if the FED blinks and drops rates more than a half point, inflation is almost certain making the plight of the unemployed much worse and everyone else tighten their belts...and this is the start of Christmas buying season, right? I mean early shoppers are in September.
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