I must have received 5 dozen emails with this chart in it.
Yes, its pretty cool; No, I cannot say what it means going forward.
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Kudos to doug short, the creator of this graph — you definitely touched a nerve.
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Note: Doug writes to say he has posted a continuously updated version of the chart — click here
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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November 21st, 2008 at 11:53 am
The one I would like to see is Japan, of course.
It seems the most relevant.
November 21st, 2008 at 1:15 pm
I think one important thing to note, which may have some significance going forward, is the fact that at the current point in time (around Day 300), all the other bear markets were only about halfway to their ultimate bottom.
November 21st, 2008 at 1:54 pm
Nasdaq post March 2000 would be a nice add
Could industrials in 1929 be more similar to technology in 2000 than to the broader S&P500 at the other times?