Most people probably don’t realize, but for about a year running up to the election, I maintained a hyperbolic blag criticizing the media, the economy and politics.
So, what was I right about and what proof do I have?
Exhibit the Dow:
This is a chart I made on July 3rd, 2008. I showed two trendlines, based on where I thought the markets were going to go. Yesterday’s closing was at 7,365.67, smack in between my “Optimistic guess” blue line and “Pessimistic guess” red line. I’m thinking both my guesses were too optimistic, and I should draw in another line around one or two thousand and hope that’s the absolute worse. My Nasdaq guesses have us around the level of the post-tech-bubble era, and that seems to have come true, with my worse-case scenario almost having been reached during our Red October (thank Paulson for letting Goldman-Sachs arch-nemesis Lehman go bankrupt instead of nationalizing them like everyone else and nearly ruining the world economy totally in the process. Paulson was the CEO or something of GS before he went back to work in Washington. He worked for both Nixon and Bush). There’s nowhere to go but up, or all the way down to zero. In fact, there’s nowhere to go but fucking anywhere. Money in the market right now equals money you don’t really have.
Tags: depression 2.0, no really we're really fucking fucked this time, total cockup, trouble in paradise