Actually, although the percentage losses were lower this time, it reminded me a lot of '87 -- Big drop on Friday followed by the 500 point crash on Monday.
Right, I remember that, 100+ points on Friday followed by the 500 points on Black Monday, and a wild Tuesday, fairly neutral in the end. But there have been a lot of big Friday drops followed by Monday bounces since then, in particular in the last few months it seems. If the drop is big enough, there's always some reference to the '87 crash and nervousness about Monday, followed by the "buying oportunity" bounce. Beats me. All I know is that, from the little guy perspective of this Wal-mart shopper and sometimes computer builder, the flow of imports from China is astounding. If Bill thinks he's going to tame or best that tiger, good luck. Rule of law and lots of other things don't particularly apply.
As to the other thread about Microsoft moving to India, I'm not exactly sure what difference it would make. World trade is still conducted in dollars, and it's hard to see Microsoft being so put upon as to walk away from the US market. All the Microsofties could live like pashas in India, but I don't know if a stable of servants would make up for the disadvantages. Maybe they could just by the Grand Caymans or something.
Cheers, Dan. |
