[T.S.R:18043] The Dooms Day Is Upon Us !

For several weeks now, I've been warning you about the massive stock market crash I see ahead.

Given the worsening meltdown in Europe ... Washington's abject failure to head off a similar crisis here ... the near inevitability of new credit downgrades for Uncle Sam ... and worsening news about key parts of the U.S. economy, a decline of at least 4,000 points in the Dow now seems inevitable.

 

And yesterday, the Congressional Budget Office (CBO) gave us yet another reason to believe that a Wall Street bloodletting may be just around the corner ...In an announcement that surprised many investors, the CBO revised its estimate of third-quarter growth downward: The U.S. economy did NOT grow 2.5% in July, August and September; it grew only 2%, bringing total economic growth for 2011 so far to just over 1.2%.

 

Of course, this isn't the first time the Congressional Budget Office has missed its economic growth forecasts — not by a long shot!

• In 2007, the CBO said the economy would grow 2.3%. It grew only 1.9%.
  
  
• In 2008, the CBO said the economy would grow 1.7%. It shrunk by 0.3%.
  
  
• In 2009, it said the economy would shrink by 2.2%. It shrunk 3.5%.
  
  
• In 2010, the CBO said the economy would grow 2.1%. Wrong again: It actually grew 3%.
  
  
• And this year, the CBO said the economy would grow 3.1%. So far it has grown only 1.2%.

Notice also that in four of the last five years, the CBO OVER estimated U.S. economic growth in its forecasts — and that certainly seems to be the case this year.

 

At this point, we'd have to see growth of over 9% in the final three months of 2011 for the economy to hit the CBO's 3.1% growth target for the year.  And that would require a miracle of Biblical proportions. 

 

 

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

 

Nothing in this article is, or should be construed as, investment advice.

 

 

 

 

 

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