muck Posted November 20, 2008 Share Posted November 20, 2008 S&P 500 futures contracts trade below 796 in overnight action ... the first time we've been below 800 since March 2003 ... So, since we're off nearly 50% from our highs, I thought I'd pass along this little timeline. The last time we dipped below 750 was in April 1997. The last time we dipped below 700 was October 1996. The last time we dipped below 650 was September 1996. The last time we dipped below 600 was January 1996. The last time we dipped below 550 was July 1995. The last time we dipped below 500 was March 1995. The last time we dipped below 450 was December 1994. The last time we dipped below 400 was October 1992. The last time we dipped below 350 was February 1991. The last time we dipped below 300 was October 1990. The last time we dipped below 250 was May 1988. The last time we dipped below 200 was November 1985. The last time we dipped below 150 was July 1984. The last time we dipped below 100 was April 1980. While we may head lower from here, we're not in "a second great depression" or anything of the sort. If we were, we'd seriously retest levels last seen in the mid 1980s. And, unemployment would hit 20%. And within two or three years, median incomes would be 1/2 of what they were a year ago. That said, I'm not quite ready to say "back up the truck and buy", fwiw. FYI. Quote Link to comment Share on other sites More sharing options...
Ramhock Posted November 20, 2008 Share Posted November 20, 2008 "While we may head lower from here, we're not in "a second great depression" or anything of the sort." Enough of us got into the mindset, that we are entitled to all the new toys as soon as they become available, to get us to this point. Certainly, the financial industry assisted in making them attainable. Seems to me though, that the snowball has started . . . 1) housing, 2) corporate & small business profits, 3)layoffs . . . rinse & repeat. A thought crossed my mind this morning. This time around, though, we have higher mortgage payments and when we get laid off, more of us will be heading to step 1) than ever before. I am no economist but, IMO, we have yet to see a snowball this size. This coming from a glass-half-full thinker. Good luck to everyone. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted November 20, 2008 Share Posted November 20, 2008 we are not in a depression at the moment. but i dont think it is very far away. jobs are being lost by the thousands. where do these people get work? the autos going under, banks going under. bad times ahead people. be frugal. save and spend wisely. Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted November 20, 2008 Share Posted November 20, 2008 nice to have experts onboard to explain this chit........how will this affect the price for a piece of ass TIA Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted November 20, 2008 Share Posted November 20, 2008 The Mad Money dude this morning said it wouldn't surprise him to see the DOW reach 6000. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted November 20, 2008 Share Posted November 20, 2008 nice to have experts onboard to explain this chit........how will this affect the price for a piece of assTIA I think for the short term, you are safe to charge the usual amount. Folks need comforting this time of year. Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted November 20, 2008 Share Posted November 20, 2008 I think for the short term, you are safe to charge the usual amount. Folks need comforting this time of year. nice seriously...I'd like to see all strippers wear one of these http://www.shopwiki.com/detail/?q=McGill+M...al+Coin+Changer Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 20, 2008 Share Posted November 20, 2008 That said, I'm not quite ready to say "back up the truck and buy", fwiw. Like I read at an economics blog I visit: "It's like a sale at Nordstrom... 50% off and still overpriced." Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted November 20, 2008 Share Posted November 20, 2008 (edited) Like I read at an economics blog I visit: "It's like a sale at Nordstrom... 50% off and still overpriced." That's a funny line... for an economist. Edited November 20, 2008 by AtomicCEO Quote Link to comment Share on other sites More sharing options...
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