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Oct 4
Dow is Up - Time to Tighten Belts
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?

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