Well, the Dow lost 4,000 points or so since Obama took the permanent lead in the Pres race--a bit more than 30% off.
Now at 7,000++
Can it hit 5,000?
Sure!!
All Obama has to do is talk twice a week, and fill in the gaps with Geithner-talk, LaHood talk, and any-old-Cabinet-moron chatter about National Healthcare.
For the double-dog-dare challenge: can the O-and-Savior's Administration get Dow to 1,500 before the end of 2009?
So what happenned to the clouds parting, sun shining,dawn of a new day of hope & propserity that was supposed to happen once this stimulus package was signed by Obama after it not happenning on the day he took office?
ReplyDeleteAll we have to do is accept a lower standard of living. DDon't you see? We've been living too well. A little less food, a little less energy, a little less driving, a little more infant mortality, a little shorter life....you get the idea.
ReplyDeleteOh, except politicians and people working for the government. They won't have to share the love.
It's funny that not too many left wing blogs (at least the one's I read and can stomach) are still singing the praises of Obama. It's been pretty quiet.
ReplyDeleteDad29 - I can easily see Dow 5,000 by Tax Day. It would "only" wipe out another 2 years of the market gains. Dow 1,500 would be a bit harder because it would wipe out all the gains since November 1985. Of course, if the goal is to completely reverse Reaganomics, the Dow would have to dip below 769.98, its August 1982 low.
ReplyDeleteAl - Nuclear explosions also part the clouds and produce intense light. Oh, and all we'll know of prosperity is a hope that someday our descendents will see it.
Deekaman - You described the New Left Economic Plan perfectly.
Dan - And that's coincidence how?
There was a stock watcher/economist on a local talk show last weekend who said that recessions tend to see P/E earnings drop to 6X trailing earnings before righting themselves. If that is true, we'll need to see Dow 3,500 or so before this thing finally settles out.
ReplyDeleteI think we should tie Congress' pay to pure performance based. If they were tied to the Dow how different do you think their decisions might be?
A few months back, I predicted it would drop to 6000. I can see now I was far too optimistic.
ReplyDelete(Hi Steveegg!)
It's change I can believe in. 5k, why not? 1.5 k absolutely
ReplyDelete