wizardofaws

The great crash of 2010

In Dollar Crisis, Obama, Wizard on October 19, 2010 at 12:51 am
Graph of the 1929 crash on Wall Street as part...

Image via Wikipedia

Just like the rise of 1929, everyone was pulled into the market.  Up, up, up went the stocks, while speculators were selling stocks and making a small fortune.  Suddenly the market started down in 1929, and in less than 3 days the markets was flat. The great crash of 29 had seen the market when it was over fall 89% where the DOW closed at 41.22 on July 8, 1932.  Years after the original fall.

From today’s high  $11143.69 to a fall of 89% would put us at $1225.80 are we really prepared?

Government spending out of control.  Housing defaults currently halted, which in itself is a problem.  Will they all come back all at once, driving the housing market down further?  The feds keep devaluing the currency.  Gold is rising!  Unemployment at an all time high and yet we can’t even get a straight number from the feds.  Pensions underfunded.  401K’s are flat.  Pensioners are having to sell their hard assets to stay afloat.

Wow the Obama years sound great so far.

October 2010 will history repeat itself?

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