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January 2011

Recs

23

"my target number for the DJIA is 4000, which coincidentally may be exactly where gold is going, too. In a true correction process, historically, the stock market's indexed value meets the equivalent value of an ounce of gold."

January 03, 2011 – Comments (7) | RELATED TICKERS: GS , GLD , SLV

Forecast 2011 - Gird Your Loins for Lower Living Standards By James Howard Kunstler

Sheesh. Was I ever wrong last year about those stock market indexes. I called for Dow 4000 and look where the darn thing ended up: 11,577.50.  Some of those fabled "green shoots" must have grown clean through my brain-pan while I slept off 2010's New Year's Eve festivities.The damage was so severe, apparently, that I missed the takeover of Wall Street by front-running high frequency computer programs battling for supremacy of the algo-space which, along with massive insider trading, daily tweaks stage-managed by the Federal Reserve via their trusted allies in large banks, and relentless propagandistic cheerleading on the theme of if-you-wish-it-so-it-will-be, kept the Dow Jones and Standard & Poors indexes in a frothy state of perma-levitation through the year.XXX  [more]

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