MeOhMy saidNo, I'm not at all joking.
There is no "bounce back" here.
This what? The above sounds like stock tips from Noam Chomsky.
I think I'll stick with Wells Fargo instead.
Oh, so you want reputable sources?
Okay, the MOST reputable source, the Bank for International Settlements (BIS) had something interesting to say.
For those that don't know, the BIS acts as the central banks for the worlds central banks. Every two months, central bankers from the industrialized nations of the world meet in Basel, Switzerland, where they coordinate central banking policy.
The central banks were the prime progenitors of the current financial crisis. They collude with and work for the big banks of the world, including Wells Fargo. In fact, the Federal Reserve gave Wells Fargo bailout money so that it could buy up Wachovia.
In June of 2007, the BIS, described by the Telegraph as "the world's most prestigious financial body", warned:
"that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood."
This is not about the "housing bubble", that is just the starting phase of this:
"The BIS, the ultimate bank of central bankers, pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system."http://www.telegraph.co.uk/finance/economics/2811081/BIS-warns-of-Great-Depression-dangers-from-credit-spree.html