I like Peter - very smart guy - his appearance with Jon was fun to watch.
As an economists, I have been following the expontential rise in greed for decades, which lead to a foreseeable collapse of basic fundamentals to sustainability, and have regged domains years upon years ago about the current crisis (and now reaping the rewards of such speculation).
Up or down, markets will have opportunity for those who have clarity of thought to realizing reality - just seems like some people (by far the minority) are not so fooled by the 'tv economy' (that is, the BS people watch on TV/Web to have blind faith in believing, as followers, they will be rewarded by listening to someone else confuse them). In reality, these 'sheeple' are the ones being fleeced by the greedy elite whom run Media outlets.
Kramer who? MSNBC what?
Markets run on emotion and followers moreso than rationalization, therefore with a steady rise in greedy people leading the greed movement (a prolonged Bull Market of Greed if you will) through-out the American Financial System, and other Global Financial 'Institutions' - it was easy to see where things were going.
Greed Breeds Mean Deeds. Mean Deeds Destroy Society - et Voila - it's just that simply.
*Of note, there also seems to be a direct correlation in the massive theft of money from around the World to the demographic bubble of 'baby boomers' trying to retire - but I'll save that for a discussion for another time. (Interesting thou how those same people are now stealing from their children's futures to pay for their self-centered greed today.)
Oh, and PS: There is no such thing as a 'free market' nor more than a 'free lunch', so people might as well jump off that train once and for all and start 'free thinking' for themselves.
Best of Luck & Success in All Your Endeavours! Carpe Peaciem!