The World Is At A 52 Week Low, And The Past 10 Years Never Happened
In retrospect all things are obvious, but someone should marvel that today's close is merely 10 points different (lower) than the exact same date 10 years ago.
And you have to ask whether God has built the world as zero sum-- i.e. this is the bottom-- or as a cyclical spiral-- in which case we are destined for 800.
And the rest of the world is no different. Click "Continue" for other charts.
Oh, and pay close attention to that bottom in February 2003, and ask yourself what might have ended such a precipitous fall and coincided with the beginning of the largest bull run in history.
I'm not a tin foil hat nut, but I'll reveal something about myself: for the very first time in my life, I am scared.
Meanwhile, the dollar took a round trip, and even lost a little:
Gold caught a triple:
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October 7, 2008 7:03 PM | Posted by : | Reply
What's good for General Dynamics is good for America?
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October 7, 2008 8:50 PM | Posted by : | Reply
Wait, wait, don't tell me...I've got it! SARS! Clearly the WHO controls the world economy.
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October 8, 2008 5:35 AM | Posted by : | Reply
I like this game. So, are you saying that when the economy goes tits-up, that signals those in power to go and invade a country?
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October 8, 2008 10:00 AM | Posted by : | Reply
Haven't realized what I'm misssing in life till I came accross your blog. It's so informative and mind-blowing! Maybe you should consider becoming a presidential candidate. Please keep posting.
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October 8, 2008 10:36 AM | Posted by : | Reply
This indeed sucks for anyone with exposure to the market that also needs that cash any time soon. It could be a while. Still, this too shall pass. If the US managed to muddle out of the Great Depression despite generally useless or counterproductive policies, it will push through this. We're in a traffic jam now, but they all end eventually.
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October 8, 2008 1:55 PM | Posted by : | Reply
It would help if certain economists didn't manipulate people's fears by saying things like, "Take five years' cash out of the stock market NOW!" Sure, great idea, because when you do that stock will continue its free fall. The wealthy are buying the stock you're selling at fire sale prices, knowing the market will recover eventually.
Buy, if you can; otherwise, STOP PANICKING. That's a huge part of the problem right now.
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October 8, 2008 2:12 PM | Posted by : | Reply
The largest global peace protests in the history of the world occurred during this month.
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October 8, 2008 5:47 PM | Posted, in reply to , by : | Reply
Here's a key point about the wealthy, who are, as you point out, buying stock a little at a time as the market tanks, in preparation for the inevitable next bull run which will come... eventually:
They aren't thinking about getting more money for themselves. They are thinking about getting more money for their dynasty. e.g. they're not even thinking, "I need to make this money for my kids"-- they're already onto the next generation, to grandkids.
That is the IMO main distinguishing characteristic between anyone wealthy or on the path to wealth, and everyone else-- including the "rich" who are only ever temporarily so. This goes with my belief that all human endeavors must be grounded in something outside of ourselves (but not too distant that it lacks personal meaning) or else it is will be either a failure or masturbation.
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October 8, 2008 7:44 PM | Posted, in reply to , by : | Reply
It's my understanding that for many of the wealthy, it isn't even about providing for family, but about accumulating money and possessions as a way of "keeping score," a way of continuously proving to themselves how successful they are.
I agree with your belief that "all human endeavors must be grounded in something outside of ourselves..." That's what gives life meaning, imo (and I'm not knocking masturbation).
But for some, "Whoever dies with the most toys wins" is about as close as it gets.
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October 14, 2008 2:16 AM | Posted by : | Reply
Turning and turning in the widening gyre,
The falcon cannot hear the falconer.
Things fall apart, the center cannot hold,
Mere anarchy is loosed upon the world.
Cyclical, eh? :P
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