Chart from StockCharts.com
This was shared out on their new blog, and as much as I don’t want to admit it, it is scary. If you are out buying banks, you are really only buying government protection at this point.
“The key take away here is that when the Internet bubble burst in 2002, the market went back to the “normal” rate of climb that it established after the crash in 1987. The current economic crisis destroyed that trendline in mid-2008 and is therefore much more serious.”
Of course it would be more instructive to start the trendline back even further, and I think that I still would use Henry Carstens chart to try to keep things in perspective:

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