October 29th, 2008
I secretly always wanted to see capitalism collapse . . .
. . . but I thought it would be gradual, that it wouldn’t happen so quickly.
I’m usually a glass half-full type of person but I’m not these days. I recently pointed out in a twit on twitter that seven out of ten of the largest jumps in the DOW index all occurred just before the Great Depression. (So don’t get excited about a half percent interest cut, or any other daily interpretation.) Dead cats bounce if they fall high enough, and this is a time to look at historical data.
When I pointed out that most big jumps in the DOW happened just before the Great Depression, this was one of the replies I got:
dude, i hope you never look to become a motivational speaker. ;)
I could blow smoke . . . but you’d have to be pretending to be tying a shoelace.
These are interesting times.
Tom Foremski reports on the business and culture of Silicon Valley at the intersection of technology and media. He also writes at Silicon Valley Watcher. See his full profile and disclosure of his industry affiliations.
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