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Maybe some hope for the markets - From Bloomberg
Old 01-20-2009, 08:41 PM   #1
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Maybe some hope for the markets - From Bloomberg

Bloomberg.com: Exclusive

Jan. 20 (Bloomberg) -- The Dow Jones Industrial Average fell 14 percent between Barack Obamaís election and Inauguration Day, the biggest decline ever. The second-biggest drop gave way to a 75 percent rally in 1933.
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I don't think it will happen. Too many people will sell into the rally.
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The chart comparison does look nice.
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Old 01-20-2009, 09:09 PM   #2
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Like his fellow Democrat, Obama plans to create jobs and boost the economy by investing in roads, bridges and public buildings ..
Will more spending in transportation create enough jobs to revive the ailing economy?
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Old 01-20-2009, 09:38 PM   #3
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Will more spending in transportation create enough jobs to revive the ailing economy?
I have to agree with you on that one. I think we have enough roads. What did the Boston Big Dig cost 15Billion?

My preference would be power infrastructure, nuclear energy, oil refineries, wind power, etc so we have the power for those electrical autos etc - without that power we will be looking like a 3rd world country.

All those new LCD TVs require more power than the CRT TVs
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Old 01-21-2009, 12:29 AM   #4
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I have to agree with you on that one. I think we have enough roads. What did the Boston Big Dig cost 15Billion?
My preference would be power infrastructure, nuclear energy, oil refineries, wind power, etc so we have the power for those electrical autos etc - without that power we will be looking like a 3rd world country.
All those new LCD TVs require more power than the CRT TVs
Hey hey hey, Hawaii's sewer system needs a $1.2B (with a capital "B") upgrade and we have several dozen bridges around the state on their last legs. One of the two main bridges out of our neighborhood is 75 years old, and its replacement cost is well north of $100M.

We finally have a Hawaii resident in the White House. Let's give him a chance to see what he can do with our infrastructure...
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Old 01-21-2009, 12:50 AM   #5
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All the infrastructure spending will not help bankers and financial types who do not have calluses on their hand due to shoveling.

No wait! Will those guys who caused this mess get involved in this again, somehow?
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Old 01-21-2009, 04:43 AM   #6
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By the time all this infrastructure gets going the recession will be over. It will take years to get projects approved and into engineering. Engineering will take a year or more before "work" can begin.

Right now I'm seeing all sorts of projects getting cancelled while they're in engineering. They are to upgrade refineries and chemical plants. Some aren't economical at $40 oil and some are economical but financing has been pulled. Our idiot congress could fund these and keep people working that will be out of a j*b soon. They won't because they'd rather get pork for their district.

Heaven forbid they fund nuclear plants (like their beloved European socialists do) and actually do something about energy that would mean something.

The market has pretty much told Obama and the dems what it thinks of them and the horses they rode in on. Jan 20 was an exclamation point.

Rant over. Feel free to move it to the Soapbox.
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Old 01-21-2009, 10:04 AM   #7
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I am with Nords. Bridges and water treatment are in really bad shape in the US.
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Old 01-21-2009, 10:05 AM   #8
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Hey now -- only doom and gloom will be tolerated here!
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Old 01-21-2009, 10:20 AM   #9
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Hey now -- only doom and gloom will be tolerated here!
That makes eleven:

10 Best Gloom And Doom Sites | 10SitesToSee

or maybe its this:

Hulu - Dilbert Animated Cartoons: Cloud of Doom
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Old 01-21-2009, 10:27 AM   #10
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Bloomberg.com: Exclusive

Jan. 20 (Bloomberg) -- The Dow Jones Industrial Average fell 14 percent between Barack Obamaís election and Inauguration Day, the biggest decline ever. The second-biggest drop gave way to a 75 percent rally in 1933.
+++++
I don't think it will happen. Too many people will sell into the rally.
+++++
The chart comparison does look nice.
I won't sell if you don't. I'll take a 75% rally. And that would get us back to a 14k DOW by year end, like I predicted in another thread.
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Old 01-21-2009, 10:35 AM   #11
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Don't rejoice as yet!

That 75% rally was in 1933, and preceded by a huge drop from the top. I do not have the number handy, but it brought the market to nowhere near the top.

PS. Here we go. Market top was 381 on September 3, 1929. Bottom was 41 on July 8, 1932. Sooo, 75% gain from 41?

I'd rather we do not make any comparison to the Great Depression. It is, you know, too depressing.
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Old 01-21-2009, 10:44 AM   #12
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Fiend's SuperBear Page was my favorite back right before and after the 2000 bubble pop.

Boy o boy o boy - tthis is getting to be fun - the old cheap bastardhood juices are starting to stir - bib overalls, shut off the the electricity, beater truck with rusty fender, cancel medical insurance, etc, etc .

Maybe a used webtv.

Nah - you can never go home again. They are gentrifying my old section of the swamp - bulkheads/fill, 20 ft pilings instead of 12, put in a new bridge.

No more living cheap but good.

At least Kansas isn't too bad.

heh heh heh - Now if that red line in the graph starts sloping down - we're all in trouble. The rest is just little market fluctuation - or 'that's entertainment'. Right? Remember the old saw 1929 took out the rookies, 1937 got the pro's.
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Old 01-21-2009, 10:53 AM   #13
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When we were in New Orleans, perhaps 10 years back, we drove across Lake Pontchartrain on the long causeway. Then, we explored the other shore. Always wanting to be on or near the water, I was intrigued when finding an abandoned house on pilings, at the end of a road and with several really nice homes nearby. Should I buy it and rebuild it? Of course, it was bigger than I could chew, and remained a fantasy. It may not be standing anymore.

Anyway, I should be able to push the kids out of the house in a few more years, when they are out of college. Cheap bastardhood sounds like fun to me. Wonder if my wife would go along?

Does she have any choice? Heh heh heh...
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Old 01-21-2009, 11:17 AM   #14
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When we were in New Orleans, perhaps 10 years back, we drove across Lake Pontchartrain on the long causeway. Then, we explored the other shore. Always wanting to be on or near the water, I was intrigued when finding an abandoned house on pilings, at the end of a road and with several really nice homes nearby. Should I buy it and rebuild it? Of course, it was bigger than I could chew, and remained a fantasy. It may not be standing anymore.

Anyway, I should be able to push the kids out of the house in a few more years, when they are out of college. Cheap bastardhood sounds like fun to me. Wonder if my wife would go along?

Does she have any choice? Heh heh heh...
There are plenty of abandoned homes available for almost nothing in the New Orleans area, though in some neighborhoods homes sat in flood water for weeks after Katrina. Come on down!

Naturally, if you'd like a home that has never flooded and hasn't been abandoned, you can buy mine but it will cost more.
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Old 01-21-2009, 11:21 AM   #15
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But from what I heard, you don't have any nutria burrowing in the back yard. Source of protein, you know? Heh heh heh.
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Old 01-21-2009, 11:25 AM   #16
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But from what I heard, you don't have any nutria burrowing in the back yard. Source of protein, you know? Heh heh heh.
There are canals 2 blocks away to the west, 3 blocks away to the south, and 3 blocks away to the north. You can go down to any of the canals and take all the nutria you want and can carry. They don't come into my yard (too lazy to walk that far, I guess), though every few years when the parish is digging in the canals sometimes a rat or two comes this far. Normally not.

The pitiful thing is that with all so many canals in the New Orleans metro area, the above doesn't even constitute identifying information.
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Old 01-21-2009, 01:06 PM   #17
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There are plenty of abandoned homes available for almost nothing in the New Orleans area
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Houses are cheap but the expense of ammunition makes them uneconomical.
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Old 01-21-2009, 05:14 PM   #18
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Cheap bastardhood sounds like fun to me. Wonder if my wife would go along?

Does she have any choice? Heh heh heh...
Yes, she has a lot of choice. If you haven't already, just try her.

Ha
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Old 01-21-2009, 05:23 PM   #19
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Nah! She would stand by her man.

Actually, I hope to never need to find out.
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Old 01-21-2009, 06:51 PM   #20
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Nah! She would stand by her man.
I believe that song may be ironic.
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