Dow is Up - Time to Tighten Belts

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Oct 4

October 4, 2006

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Wonkette is justifiably skeptical about the Dow's latest record-breaker. They suggest we look at past record-breakers:

September 3, 1929: The Dow reaches a record high of 381.17, just seven weeks before Black Friday began nearly 20 years of poverty and horror to America.

August 17, 1987: Another record high, 2700.57, two months before the October 19 crash that wiped out 23% of the Dow’s value and ensured a single term for Bush 41.

March 10, 2000: The NASDAQ hits a record 5132.52, beginning a long and devastating bloodletting that would only reach bottom in October 2002, when the technology index sank to 1,108.49 — a 78.4% decline in 18 months.

So, if history is any indicator, we are looking for a crash around the first of the year, right?

related entries

Katherine Harris is Just Plain Wierd Jun 7, 2006
Al Gore vs. Hillary Clinton for 2008? May 8, 2006
News Floozy: Bush Not a Leader, Punishing Journalists, Character, $4 Gas Apr 27, 2006
Kimberly Williamson Butler Continues to Astound Wonkette (and Me) Apr 18, 2006
Scott Adams on Evolution Mar 14, 2007

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