Dow 14000

[DeepFried]

Quote from Maverick74:

And furthermore, let me remind you market historians here that between 1966 and 1982 this market was completely unched. That's right, at the height of the Vietnam war, with interest rates at 18%, with gold at $850 an ounce, with gas lines 3 blocks long, with our entire air traffic control system on strike under Jimmy Carter, the Iran Hostage mess, 15% unemployment, all of that mess, all of it, and this mkt was flat for 16 years.

Just chew on that for awhile and then get back to me before you spew this doom and gloom crap. You know something occurred to me earlier. Most of the people posting on ET seem to be very young. And they don't remember all the things this country has been through because they have it so easy now. An emergency for our young people today is when their cell phone batteries go dead and their i-pods break. You guys don't remember all the shit this market has survived through. This is why you think $80 oil or a housing market collapse is going to be the end of the world. You simply do not know any better. I guess I can't blame you. It's pure ignorance.

Edit: I almost forgot to mention the massacre at the 1972 Olympics in Munich, Germany. Oh yeah and the resignation of a US President, taking the US dollar of the Gold standard. I could go on and on and on.....

I agree it is monumental ignorance. Ignorance caused by a seeming lack of intellectual curiousity. Everything defaults to "It's Bushitler and the Jews manipulating the market." That's not a path that's going to lead to any useful market insight.

All these predictions of a crash....I was on the OTC desk for a major IB firm in October of '87. The market environment was nothing like it is now for all the reasons you detail in your post. Crashes don't just appear, you don't get a wipe out of billions or trillions in equity without a lot of conditions lining up just so. The people here predicting a crash have never experienced one. It takes more than downdraft in housing or a low savings rate.

Yes, stocks could sell off hard at any time, but that is always true. That's why we use basic sound money management, but trading your account in anticipation of something that has a 1 in 1,000 chance of happening is unwise, to say the least.

 

[Arnie]

I agree with Mavco.....range bound market. Remember, all those baby boomers will be WITHDRAWING funds for their retirement, especially after the Democraps get elected and eliminate SS for anyone making over $40K a year.

 

[rainman2]

Quote from drsteph:

good chart. i have posted extensively on this subject previously.

FWIW, India and China look to be in the vertical portion of that chart these days.

Was there a particular thread that you wrote about it? I would be interested to read your take without going through all your posts.

tia