4 Crashes: 1929, 1962, 1987 and 2008:
By Barry Ritholtz - January 22nd, 2009, 11:30AM
Nice comparison via Bob Bronson of 1929, 1962, 1987, and 2008:
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"While money doesn't buy love, it puts you in a great bargaining position." —Anonymous
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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January 19th, 2009 at 11:12 am
What’s up with the British banking system today??? Did I hear right (CNBC) several British financial stocks have plunged 70% today?
January 19th, 2009 at 12:20 pm
Appears so. News of monumental losses started dribbling out yesterday.
http://www.bloomberg.com/apps/news?pid=20601087&sid=akejqgjre9D4&refer=worldwide
Looks like the RBS did “make it happen.”
January 19th, 2009 at 1:16 pm
IOW, this barrel to which i’m affixing suspenders has a new bottom
January 19th, 2009 at 1:35 pm
This is terrible real-time reporting.
You don’t know what the bottom is until well after you hit it, so the scale on the current chart is unknown. Or, is Bob claiming to know what happens?
Perhaps he wouldn’t mind lending out his time machine?
Chuck
January 22nd, 2009 at 4:37 pm
The interesting thing about these charts is the similarity of the pattern. Patterns being all important to traders and economists eh?