Wednesday, October 08, 2008

Crisis

Karl Denninger is sounding absolutely dire warnings about the market (Dow 4,000) and the economy; recently Jim from San Marcos said Dow 2,000 (and I do so hope he's completely wrong). This getting well into the worst fantasies of the Cassandras and we must hope that our apparently ignorant political class wises up fast.

4 comments:

  1. Anonymous8 October 2008 at 12:11

    Denninger is strong stuff, but bloody disaster is what I've feared for two or three years. On a cheerier note, his writing reminded me that it's odd that Yanks use "check" to mean both "bill" and "cheque".

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  2. Sackerson8 October 2008 at 12:49

    I'd hoped it wasn't going to be THAT bad. Still hoping.

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  3. Jim in San Marcos8 October 2008 at 14:32

    Hi Sack

    There was some sarcasm in my remarks of Dow 2000. Back in the 1970's when the market was in the 1300's, 2000 was a dream number that bordered on the impossible at the time. It was often thrown around by stock brokers as a wish of the times. We got it and then some.

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  4. Sackerson8 October 2008 at 16:04

    True, Jim, we've forgotten how fast it went up. 4,000 is bad enough now.

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