for the contrarians in the group....two above-the-fold articles on page 1 of the Sunday New York Times and Sunday Boston Globe about how the "battered market threatens many Americans' dreams" (Globe headline).
from the Globe, an excellent quote...
<<''For baby boomers, and for generation X-ers who've been working 10 years, this is clearly an event as seminal as the Great Depression,'' said Daniel Leemon, chief of strategy at Charles Schwab & Co., the San Francisco-based brokerage firm. ''This will be the defining event for a generation.''>>
OK, so they just used the word 'Great Depression' on the front page of the Sunday paper. I should also note that most of the "bear market" articles up to now have bear 'headlines' but the meat of the story is all about how the market always goes up in the end and people are maintaining confidence and stocks for the long run yada yada yada. this article had none of that, just gloom and doom.
ought to be good for at least a short term bounce, no??
THAT said...
"For baby boomers...clearly an event as seminal as the Great Depression"
give me a farking break!! those self-indulgent, added nothing to mankind boomers are comparing THIS to the GREAT DEPRESSION? with their 10k ft^2 McMansion and two sun-blocking Expeditions in the garage (w/ room to spare), well-watered lawn (in a desert, of course), and kids for whom they paid for 6 years at Berkely 'cause they just couldn't manage to graduate in 4. so i guess when the S&P gets to AA's target of 400 +/- they will comparing it to the black death??
Maybe with the S&P at 400 the boomers will take the 25 cents on the dollar that they have left and buy a &^%$ing clue.
Cheers |
