The Dow Jones Industrial Average has just fallen below 10,000 for the first time since 2004. Breaking through the 10,000 barrier was a huge deal on CNBC when we were partying like it was 1999, nine years ago.
Essentially, we are back to stock market levels that prevailed a decade ago — proof that we are in a major secular bear market.
The customer tags on this book are most appropriate:
“Dow, 30,000 by 2008” Why It’s Different This Time
Hilarious. Robert Zuccarro’s book reminds me of this one:
Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market
Regarding today’s crash, this bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not invest the money directly into the American taxpayers? The government could do twice as much good for the economy by returning half as much money (as the bailout requires) directly to the hardworking American taxpayers. A bird in the hand is worth two in the bush administration.
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