James Howard Kunstler is hardly the one to speak creditably in defense of
Matt Simmons given his own failed dire predictions for Y2K see:
My Y2K - A Personal Statement
web.archive.org
and his predictions of stock market crashes in 2005, and 2006
"I'm inclined to predict a gruesome journey down for the Dow Jones into the 4000 range by the end of the year."
Clusterfuck Nation by Jim Kunstler - June 2005
jameshowardkunstler.typepad.com
DJI Closed at 10,717.50 Dec 30, 2005
finance.yahoo.com^DJI&a=11&b=30&c=2005&d=11&e=31&f=2005&g=d
"I'd called for a Dow-4000 late in 2005. I think that was just an error in timing, and still call for the Dow to sink into that range, or worse, in 2006."
Kunstler: Predictions for 2006
energybulletin.net
DJI Closed at 12,463.15 Dec 29, 2006 more than three times
higher than his Dow-4000 call.
finance.yahoo.com^DJI&a=11&b=30&c=2006&d=11&e=31&f=2006&g=d
Twice wrong, but undeterred he called for Dow-4000 again in 2009.
"By May of 2009, the stock markets will resume crashing with the ultimate destination of a Dow 4000 before the end of the year."
Forecast for 2009
energybulletin.net
DJI Closed at 10,428.05 Dec 31, 2009
finance.yahoo.com^DJI&a=11&b=30&c=2009&d=11&e=31&f=2009&g=d
Boy, you sure don't want to use this guy as your market
timer. And what's this fetish of his for Dow 4000?
Kuntsler's fashionable fear-mongering on subjects on which
he remains remarkably mal-informed has earned him devoted
followers and a living as he serially predicts apocalypse
soon, but not too soon. Not until he finishes his
current book and lecture tour. |
