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.
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4 comments:
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".
I'd hoped it wasn't going to be THAT bad. Still hoping.
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.
True, Jim, we've forgotten how fast it went up. 4,000 is bad enough now.
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