You Are Here
Thursday, September 04, 2008 | 06:00 PM | Permalink
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BR, you need to use the monthly 20 year chart so that people can see just how far we have to go.
Posted by: JustinTheSkeptic | Sep 4, 2008 6:07:23 PM
BR, what is the mental desease that Jim Cramer actually has? I'm thinking the Napolean Syndrome? Along with being a megalomaniac.
Posted by: JustinTheSkeptic | Sep 4, 2008 6:14:45 PM
i dont get it.
Posted by: jack | Sep 4, 2008 6:26:53 PM
That is certainly where Abramoff is. He got another 4 years today.
Abramoff told the court that he was "a broken man" and pleaded for leniency, saying it was "amazing for me to see how far I strayed and how I did not see it at the time".
He said that much of the activity of Washington "lives in the loopholes" but that he had "blundered farther than even those excesses would allow".
The BBC's Richard Lister in Washington says that the scandal was a disaster for the Republican party, leading to their loss of control in Congress in 2006.
"Washington lives in the loopholes". Truer words were never said.
Posted by: AGG | Sep 4, 2008 6:27:16 PM
Nice rack!
Posted by: Pat G. | Sep 4, 2008 7:17:58 PM
Palin tapped the Abramoff network way back when she was mayor of tiny 8000-strong Wasilla. McCain found himself a real catch there... (btw: when will SPY break back thru the Oct '02 lows?)
Posted by: Scorpio | Sep 4, 2008 7:21:37 PM
Actually you are lower than that..
SP futures are currently 8 points lower than close and the Dow is off 65....
Posted by: Vermont Trader | Sep 4, 2008 7:22:31 PM
Thanks for the reminder, BR. Appreciate it. Now I'll jump out my basement office egress window.
Posted by: Jeff M. | Sep 4, 2008 7:28:13 PM
We are in big trouble. Banks and brokers can't afford to hold stocks which aren't going up.
The euro zone and all world is now slowing. They are lagging us by about 6 months. We should have started a recovery by now but we have not.
With treasury money locked up in the banks the plunge protection team is without financing to support a major market crash.
Posted by: John Borchers | Sep 4, 2008 7:39:03 PM
VT: i'm talking 10/02 lows around 850 on the Spydie-man
Posted by: Scorpio | Sep 4, 2008 7:39:34 PM
Oh and P.S. SPY 50-60 I think is possible.
My deflation theory is coming through, unfortunately. As the commodities get whacked all profits riding on those commodities are kaput.
This of course is the penalty for making up economic numbers which aren't correct.
Posted by: John Borchers | Sep 4, 2008 7:47:14 PM
Not a great time to rack up $10T in Federal debt.
...uhhh hehe, did he say "rack?"
Posted by: VennData | Sep 4, 2008 8:11:18 PM
Eh, I am with Justin on this one. We are actually still near the top. I have said for months on my own blog Dow 5000 and oil $300 sometime in the 2010s, so the 340 point drop in the Dow today is just a small blip, a fraction of the standard deviation of the daily value of the Dow. There will be at least a seasonal suckers' rally followed by a correction for the next few years, with an overall downward trend to oblivion, especially if McCain wins.
So, has anyone figured it out: is oil driving the dollar's rise or is the dollar's rise driving oil?
Posted by: CNBC Sucks | Sep 4, 2008 8:37:24 PM
...and we have not yet -- officially -- entered the fall season! Boy I love those fall colors. Green turns to yellow, maroon and red! And finally we bare it all and what is left is just skeleton of the tree!
It will be a beautiful slide thru' the winter...Just a hunch as GWB ends his final term.
Posted by: Nihilism | Sep 4, 2008 9:15:20 PM
Barry:
Today was a 90% down day.....
Posted by: In cash | Sep 4, 2008 9:29:35 PM
If that's a chart of the dollar, it has to fall farther. No other way.
http://www.nytimes.com/2008/09/05/business/worldbusiness/05yuan.html?_r=3&oref=slogin&ref=business&pagewanted=all&oref=slogin
Posted by: Stuart | Sep 4, 2008 9:42:28 PM
Houses are too expensive.
I´m waiting for a 35% drop.
After that a real free market is going to work again.
Posted by: House buyer | Sep 4, 2008 10:33:07 PM
And how much does commercial RE have to fall?. No end to it.
Posted by: Stuart | Sep 4, 2008 10:42:53 PM
