The masks are coming off. It’s the end of the party, now we get to see what people really look like. And it’s not a pretty sight.
You’ll recall that one of the fairest of the Bubble Era’s revelers was the idea that, over the long run, you would make money in stocks. All you had to do was ‘buy and hold.’ Who didn’t like her? She seemed so easy…so willing…so fetching and attractive.
Yesterday, the Dow lost another 203 points. Investors are down 44% so far this year. Worldwide, they’ve lost $10 trillion this month - far worse than the crash of ‘29.
The most successful economy of the 20th century was the United States of America. The second was probably Japan. It rose from the bombed-out ruins of WWII to become a worldwide export powerhouse, dominating the auto and electronic equipment industries.
But yesterday, stock prices in Japan fell to more than
...
Tags for this Post:Argentina,
Argentine,
Argentine government,
Buenos Aires,
cents,
Chris Mayer,
Conference Board,
contrarian profits,
David Winters,
doug casey,
Dow 30,
finance ministers,
FPA Capital,
France,
golf,
Halloween,
hallucination,
International Monetary Fund,
Japan,
Jean-Marie Eveillard,
Market Commentary,
market insurance,
Nicholas Sarkozy,
Nikkei 225,
Oil,
pain,
Peso,
RBC Capital Markets,
Robert Rodriguez,
Sony Corp,
tennis,
The Financial Times,
Tokyo,
Toyota Motor Corp.,
United States,
United States of America,
US Fed,
Us Government,
USD,
William Fries