Remember when the Dow Jones crossed the utterly artificial breakpoint of 12,000? My, but there was much rejoicing in Lower Wankerville, what with the wingnuts popping the bubbly and pulling out the good cocaine. Yessir, good times, good times.
Of course, it wasn't clear what all the fuss was about since, as you can see, it's not as if the market suddenly exploded upwards in an orgy of profit for all:
More like just a slow, steady increase but, what the hell, still reason enough for an orgy of back-slapping and "I told you so" smugness.
Of course, when the TSX takes a sudden dump in the course of a single day, well, yeah, you can just guess what's coming:
Ok, is it just me or has the MSM just jumped the shark? I mean comparing the loses on the TSX yesterday, which by the end of the day were less than 3% of total value, to something like 'Black Monday' is just absurd. I mean what day was it when the TSX lost this amount in a single day two and half years ago? There was some market fallout, but as you can see by the graph below, there was only a small percentage difference by the end of the day from the Income Trust announcement and a whole lot of general market decline for the Stock Exchanges in the Americas.
Seriously, when it comes to the Blogging Tories, it's always fun to guess who's going to show up -- the original blogger or their evil twin, Skippy. I should start a pool.
2 comments:
You could have a point if I had ever done a post on the Dow breaking 12,000. Unless you think there is just one Blogging Tory who does every post on every site on the blogroll. Actually, I don't remember any blogging tory doing a post on this, even if we were all the same multiple personality. Maybe you could provide a link.
Now back to your point, what is your point? Your post has no relevence to my post other than quoting part of it. I see that nonsensical ramblings that follow no logic are your forte.
Thanks for the traffic.
It should also be pointed out that stock indices, like movie box office gross, isn't adjusted for inflation, and for the same reason: setting new highs generates gonzo free publicity, which in turn induces more people to run out and buy stocks / see movies.
It's a great racket if you're an investment firm or a movie studio.
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