raising4daughters

Today Might Have Market the Bottom or Top of ... Something

Nice article until your last phrase "in some Mad Max distopian future." You're joining the chorus of end-of-world singers that signals we're close to a bottom. Dow 8,500 puts it right back on the long-term trend line. Since we're back on the long-term trend line, it's fair to assume that we've got a 50/50 chance of being higher a year from now.

Ford, GM, and Chrysler have too much capacity (due to emergence of transplants) and the market left alone will sort that out, not without pain, but it won't kill the nation.

Wall Street, R.I.P. Now What?

Crocodile tears. These guys have been making gobs of money for many years, skimming off the top of the wealth generated by REAL wealth-creating industries like mining, manufacturing, fishing, and the like.

In a weird sort of way, to me, this looks like the first step toward re-establishing sanity in this country. Maybe with the vampires on Wall Street gone, large manufacturers and conglomerates can actually make decent returns and reinvigorate the real wealth creating sector of our economy.