I never made any such prediction, or even anything close to it.

Parker made the 6K prediction.

Do they have any dementia specialists where you work, Hank?

I leave the predictions up to people who know their ass from a hole in the ground.

When it comes to the economy, that's nobody.

Enough people make fools of themselves predicting where the economy will be in 1/3/5 years that I see no need to join them.

Pretty sure KKKevin Lund made similar dire predictions.

You know, my old man worked in the White House during Nixon, I've got all kinds of goodies in the garage. WH letterheads, envelopes, phones... phones with numbers, and a red number, that I was told to never, ever call ... lots of Christmas family photos of Dick and fam... maybe even some campaign memorabilia

Believe it, Hank...............nobody knows.

Go ahead..........ask the heads of the big brokerages, the big banks, the Fed themselves to predict where the stock market will be in 5 years. Not one of them will do it, or can do it.

The economy is like the weather. The guys with big brains can see what's just around the corner most of the time, but they don't seem very good at long-term predictions because of the complexity of the system.

I agree with the first sentence.
Check the graph from 1981 to 1991....worst performing sector you could own.
I'm just sayin....

Like any other investment you have to be on your toes. Look at US interest rates for the time period you pointed out and you will see why the price of gold crashed. For a better picture look at the graph from 1968 to 2010.

Compare that with interest rates today and forward comments by the master's of the universe who decide what those interest rates should be.

At some point in time the Fed will have to raise interest rates to save the dollar. Although they risk bringing the economy to a halt in doing so. They've effectively painted themselves into a corner.

Gave up trying to read all of this.
Are the RWWJ's whining because when GW was elected the dow plunged and when Obama get's in it starts to skyrocket?

The market may be due for a correction but stocks are still under valued as the GW banking crisis drove them into the ground. Another thing driving the market up is the recent change to short selling rules. Under GW you were seeing days where more shares of a stock were bought or sold than existed which should be impossible. Some companies were being driven into bankruptcy because the shares would be short sold into nothingness. You'd see companies come out with quarterly/annual earnings that smashed estimates only to watch the stock plummet. Who wouldn't sit on the side lines when the fox is guarding the hen house which was typical Bushism. As for Gold i'd say it's way over valued and only staying where it's at while the dollar is down and the dollar is down because we want it to be for now.

[quote=stlhead]Gave up trying to read all of this.
Are the RWWJ's whining because when GW was elected the dow plunged and when Obama get's in it starts to skyrocket?

Skyrocket? It is trending up, but skyrocket.

I especially like the part where you say the stock market is still under valued yet in another thread advocate that "artificial" segments of the economy like "real estate and mega yachts go bye bye."

Yup they would be severely hurt if there weren't tax breaks which all of us tax payers end up covering. Since "no deductions" ain't going to happen the market is undervalued IMO.

Skyrocket? look at a three month chart of the DJIA or NDX.

It's a pretty damn good trend

2009 DJIA opened Jan 01 at 8,772.75, Opened Nov 04 2008 Election Day at 9,323.89, Opened Inauguration Day at 8,279.63
Mar 09 Falls 79.89 to close at 6,547.05, down 53.78% from the all time high on Oct 9, 2007, down 25.37% from the 2009 open
OW! OW! OW!
Mar 23 Rises 497.48 to close at 7,775.48, up 6.84%, fifth largest point gain in history
Jun 01 Rises 221.11 to close at 8,721.44, up 33% since this year's low on Mar 09
Jul 23 Rises 188.03 to close at 9,069.29, highest close this year and the highest close since Nov 05, 2008
Oct 14 Rises 144.80 to close at 10,005.86, highest close this year and first close above 10,000 since Oct 03, 2008
2010 DJIA Opened Jan 01 at 10,430.69, up 18.9% from the open on Jan 01. 2009
Apr 04 Rises 8.62 to close at 11,005.97, first close above 11,000 since Sep 26, 2008

Can we lay off the facts and figures, and topic at hand, and get back to pure partisan bickering again?

I mean, isnt THAT how we resolve everything?

Picking on the GOP is like picking on a Coug. It goes in streaks.

The market is definately undervalued, unless its overvalued, none of which seems to matter,once fear and greed kick in.

I know I bought Ford stock at $1.75 a share. I think it was undervalued.

PE ratio on google hit 100 today, assuming I heard correctly.

A little rich.

BTW, the general consensus for the stock market graph to look like a square root sign. Some folks, think its going sideways for a long time to come. This is earnings week. Alcoa didnt make it. Intel did I think.

Just about anyday you want, CNBC will trott out a Bear and he will tell you why the market is going back down. Mostly cause he wants it to. Just wait till ford has a bad quarter. Back down to 8 bucks and youll have lost 3 dollars plus the 10 you paid to buy it. Hope you bought a thousand shares dave. Remember, pigs get slaughtered. Sell now. One recall away from 8.
Seriously, if they miss their qtr, by a penny per share, it will tumble.

While you watch, listen for any democrat that comes on about taxes. They all say the same thing. Stock market and the economy went way up during Clintons tax increase. It was preplanned of course. Al Gore invented the internet and Clinton had a bowl movement and they named it Bill Gates. People forget the tech boom and the crash in 99.

Bush didnt deserve credit for the economy cause he didnt make the dam home loans to a bunch of dead beats in the first place. Not smart enough. All the mortgage back securities? Lots of Cities, lost out on that stuff. The whole thing was a house of cards. People were warned and they did not listen. They had a show about one guy who predicted the whole thing. He presented to Lehman or someone who told him to mind his own business. Guys who invented the securities also lost their jobs. Math wizards.

That tears it, the nomination for Supreme court is going in the trash.

Such a troll.

Your up early...

running out of stray dogs yet?

Lead Eater must have a degree in finance or economics or something to be so tuned in to the finer points of how the economy performs.



Or not.


Whichever.

Massive capitulaiton in the market today as it saw intraday lows close to 1000 points to the downside on the DJIA. Conveinantly 1.5 points away from shutting down trading for the day. That is before the FOMC or Plunge Protection Team stepped in to stop the selling.

CNBS printed a laughable story that attributed the sell off to "erroneous trades". One in particular where a Citi trader mistakenly placed an order for Proctor & Gamble stock and mistakenly typed in a "b" for billion instead of a "m" for million for unit volume "I'll take two thousand three hundred and forty seven shares please"

I guess fat fingers can trigger a total market collapse. That or a cat running across the keyboard. I had a trader tell me today that he examined the 1 second data and the DOW drop preceeded the P&G drop, not the other way around. It's likely heavy manipulaiton is a foot.

Curb the fear, hype the recovery, nothing to see here folks.

The sovereign debt crisis is only in it's infancy starting with Greece. Many other countries to follow. Gold acting like money instead of a commodity. Moment of silence for the death of the Euro.

The market will look rosy again once the hedge scum are done shorting and decide to take a long position.

US debt to GDP in the same range as Greece.

Is the market even real anymore???