12 'Dr. Dooms' warn Wall Street's optimism misleads, will trigger new crashA neuroeconomic peek inside your brain's new strategy as we enter the "Doomsday Decade" and leave behind the "Lost Decade" ("lost" because the Dow dropped from 11,497 to 10,428 in 10 years, while Wall Street got rich wiping out almost 10% of your retirement funds). Test your 2010 strategy. Are you an ...
Optimist? As the new decade starts, are you an optimist who trusts Wall Street's advice that 2010 will be a great time to buy stocks. Wall Street says the "Lost Decade" (what a great title) is now behind us. So you believe that the 60% market rally since the March 2009 bottom will continue, with at least 20% gains in 2010.
Pessimist? Or, you're distrustful, cynical and pessimistic about all predictions made by Wall Street's bosses and pundits. You're particularly skeptical of any and all forecasts by the "too-greedy-to-fail" bankers who stole trillions from taxpayers, the Fed and Treasury, then failed to stimulate the economy and now pocket mega-bailout bucks as record bonuses, just one year after we saved Wall Street from near bankruptcy.
This is a simple test of your mindset. Betting odds say most of you will pick answer "1." Why? America was founded by optimists. You believe that a "happy conspiracy" binds politicians, CEOs and Wall Street, making capitalism work and America a powerful nation: So you accept Wall Street's greed, lies and thievery as the price of "free-market capitalism," and part of America's DNA. You embrace "capitalism-without-morals. Read more......
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