0
0

Is this the bottom :-)


 invite response                
2008 Oct 12, 11:45pm   18,470 views  193 comments

by SP   ➕follow (0)   💰tip   ignore  

bottom

I wanted to get this in before the Dow crashes again... (it is up 400 points this morning).

I have no reason to believe this is the bottom of this depression.

However, what are you going to look for as signs?

Reversion to trend? Which trend, and how far? Dow was 3800 at the beginning of 1995, and 6800 in Jan '97.

Or "is it different now", and we can't really look to simple numbers like the DJIA and Nasdaq to tell us when a widespread credit-bust may be coming to an end?

(Racist, sexist and other anti-American posts will be taken out back and shot.)

SP

« First        Comments 173 - 193 of 193        Search these comments

173   Malcolm   2008 Oct 15, 6:39am  

I would think they were doing pretty well. I can't wait for Bush to go and maybe we can get back on track to some sort of productive relationship with Russia. Bush sure has a way of pissing other countries off. I saw him lecturing Putin one time on democracy. Oh boy, I thought, that was pretty stupid.

174   Malcolm   2008 Oct 15, 6:45am  

That I do know.

175   Malcolm   2008 Oct 15, 6:49am  

That's just the way of life over there. Just like in all the latin countries, organized crime runs things the same way.

176   Malcolm   2008 Oct 15, 6:51am  

I played volleyball with a guy who was Russian but looked Japanese. Another player asked me on the side how that could be. I rolled my eyes and said, "figure it out."

177   MST   2008 Oct 15, 6:52am  

K.

Jim Geraghty had the story running on NRO and he's finally got some feedback (It took this long!)

UPDATED: Two readers with backgrounds in national security and naval affairs tell me not to worry and that the story is bogus. If they're not worried, I'm not worried.

TOB's nose vindicated. Provided you believe those national security types.

178   Malcolm   2008 Oct 15, 7:00am  

"TOB’s nose vindicated. Provided you believe those national security types."

Time will tell, but I respect his original points of view.

179   Peter P   2008 Oct 15, 8:25am  

Bernanke says bubbles should be tackled:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_EGuB7kQmyo&refer=home

Why now?

Perhaps they want to suppress the coming commodity bubble?

180   OO   2008 Oct 15, 9:18am  

Looks like the US is making it more difficult for both citizens and PRs to give up their status.

"Congress has passed a law that will tax the assets of those who leave for good on their way out the door, as if they were selling those assets. But tax experts say the more significant change may be a provision that taxes U.S. heirs on amounts given or left to them by ex-U.S. citizens. Taxing the recipient instead of the donor will make it harder to get around the tax rules.

"The new rules say, if you leave any of your property to a U.S. person, it will be taxed at the rates for U.S. gift tax," which are currently 45%, says Henry Alden, a certified public accountant at Everest International Group, a Baltimore-based financial-planning firm. * * *

U.S. citizens and long-term residents who are terminating their status will be taxed once on their unrealized gains, at current market rates. Stock portfolios, real estate, art and most other types of assets will be captured by this new "mark to market" tax. Some experts say the new law could deter some citizens or residents from leaving the U.S., since the benefits of doing so will be reduced. Yet the simplicity of the new one-time tax may appeal to others."

Gotta make sure the little ones are not US citizens, I believe that a natural born US citizen has the right to give it up when he reaches 18.

181   OO   2008 Oct 15, 9:22am  

Our founding fathers must be turning in graves knowing that the new country they founded turned exactly into a tyranny that they were trying to escape.

182   justme   2008 Oct 15, 9:59am  

The bad news, is that the stock market is going to hell in a handbasket. The good news is, if this doesnnot cause the fortress to crack, nothing will (no prediction on the timeline, though).

183   justme   2008 Oct 15, 11:34am  

I'm waiting for Joe The Plumber to show up amongst us. Anyone :-) ?

184   justme   2008 Oct 15, 11:36am  

Who's going to be Joe The Plumber on SNL this week? My bet is on Will Forte.

185   thenuttyneutron   2008 Oct 15, 11:52am  

Ohio is full of stupid people. I was imported to the state to fill a job position that could not find qualified locals to fill. Out of a total of eleven openings, all had to be filled with people from out of the state.

The smart people of the state got out long ago when they could.

186   thenuttyneutron   2008 Oct 15, 11:54am  

Asia is falling apart again.

187   thenuttyneutron   2008 Oct 15, 12:14pm  

TOB yes.

188   thenuttyneutron   2008 Oct 15, 12:20pm  

I take back the all part. There was a guy from South Ohio.

189   Peter P   2008 Oct 15, 4:00pm  

Huh?

190   Peter P   2008 Oct 15, 4:01pm  

The smart people of the state got out long ago when they could.

Randy is one fine example.

191   janni   2008 Oct 16, 5:10am  

Just a quick note to say thanks for using my 'fat bottom' picture although you might have asked me first. Let me know if anyone would like a print. Oh and I think the seat could well buckle under this greed ridden bloated artificial economy. http://jane.classycoolmusic.com/art2.htm

192   SP   2008 Oct 16, 4:27pm  

Janni please accept my apologies for linking to the image without permission - I just happened to find it on google-images. You have a very good portfolio, specially liked your photograph of the priory.

193   BeachRealty   2008 Dec 13, 10:32pm  

I think you need to go back to the mid 80s Dow closer to 2000-3000,
in 1985 dollars.
The much touted great bull market was just that, BULL. built on cheap, over used credit and over leveraging assets everywhere.

By the government printing money to bail out everyone we will eventually devalue the assets we are trying to maintain, though inflation.

« First        Comments 173 - 193 of 193        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions