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You will see a relief bounce here before things get really bad.
Look for china and other emerging markets to breakdown before it gets really bad in the US. The economy is still very strong and people are already talking about the FED making an 'emergency rate cut'. The consensus never calls the top to markets, its when people are complacent and gung-ho when the bottom falls out.
True this is painful, but we arent anywhere near 1998 with the credit debacle and russian defaults.
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