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whidbey
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It is odd someone would think the trend line on the Dow means much in this marketplace. We are not suffering from overvaluation of equities as much as we are hurting from the inability to fund normal economic transactions. In this situation the system is unable to provide money to actors and the exchange process grinds to a halt. We have not idea when the government will realize that final demand is the determinant of whether an economy exists. At this point the government is still fixated on intermediaries in the financial system, necessary move, but Not sufficient. Skip the trend lines until we decide to keep the markets.
Oct 12 13:38 pm
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