Legion, Julian appears to have turned out quite well (a shame he could never do another beautiful song like Valotte) and Cynthia has always been gracious in interviews. I actually met her and and Yoko once (that was something) and Cynthia was extremely sweet. I think it’s more of the fact John was apparently asked to downplay his family life in order to keep the women interested in the Fab Four, but after they broke up, John still appeared to have no relationship with Julian and I don’t believe he got any money from John before or upon John’s death. I suspect Yoko influenced that.
“REMEMBER: In 1930, They Didn’t Know It Was ‘The Great Depression’ Yet…
…In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.
The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak.
That rally, of course, was also the biggest sucker’s rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century.
The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did–a year, as opposed to 6 months.
The 2009-2010 rally that ended in April, of course, may actually be the start of a great new bull market, one that will shake off the current “correction” and roar back to the market’s old highs. On the other hand, it may yet also be another version of what happened in 1930–the start of another bear market that will take the market down for years (or even, gulp, to a new low).
Importantly, we won’t know for sure what today’s market is until we look at it with the genius of 20/20 hindsight. As Peter Schiff pointed out yesterday, even as late as 1931, they didn’t know they were in a “Great Depression” yet. On the contrary, the promise from the White House was that “prosperity is just around the corner.”
Don’t believe it? Check out this excellent compilation of New York Times clippings from early 1930 put together by Dan Alpert of Westwood Capital. There is nary a hint that anyone had any idea about the disastrous decade that was to come.
Dan’s complete compilation is contained in a broader research piece, which we’ve embedded at the end. The slides below contain excerpts from February-April, 1930.
Is the current pullback just a “correction” and a “buying opportunity”? Or, as in the spring of 1930, is it the start of the REAL market crash? You be the judge. Meanwhile, here’s what things looked like in the spring of 1930…
The Greatest Sucker’s Rally In History, Play By Play >
“There was a pathetic commercial on channel 4 this morning during the today show with the BP CEO apologizing and saying he would fix things and basically on the verge of tears. ”
Wish we had Churchill around to teach these chiefs something. This is not a reality show on MTV.
“Who said Court Pastry Shop has the best Italian Ices?”
I did! I love the custard (almond) flavor!
The “lobster tail pastries” are the best!
BHO, team reasonable is probable the ones who are making the most decisions / taking action vs talk-only bunch on the other teams
I think I just developed Carpel Tunnel Syndrome scrolling past BHO’s post.
Legion, Julian appears to have turned out quite well (a shame he could never do another beautiful song like Valotte) and Cynthia has always been gracious in interviews. I actually met her and and Yoko once (that was something) and Cynthia was extremely sweet. I think it’s more of the fact John was apparently asked to downplay his family life in order to keep the women interested in the Fab Four, but after they broke up, John still appeared to have no relationship with Julian and I don’t believe he got any money from John before or upon John’s death. I suspect Yoko influenced that.
RF;
Also true. However, to Denton’s point, one can calculate a theoretical limit assuming that just oil is flowing.
Detox/rehab for the pissy/crackhead bulls…[you too Team Reasonable – cowards! Pick a side!]
http://tinyurl.com/2vodr3x
“REMEMBER: In 1930, They Didn’t Know It Was ‘The Great Depression’ Yet…
…In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.
The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak.
That rally, of course, was also the biggest sucker’s rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century.
The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did–a year, as opposed to 6 months.
The 2009-2010 rally that ended in April, of course, may actually be the start of a great new bull market, one that will shake off the current “correction” and roar back to the market’s old highs. On the other hand, it may yet also be another version of what happened in 1930–the start of another bear market that will take the market down for years (or even, gulp, to a new low).
Importantly, we won’t know for sure what today’s market is until we look at it with the genius of 20/20 hindsight. As Peter Schiff pointed out yesterday, even as late as 1931, they didn’t know they were in a “Great Depression” yet. On the contrary, the promise from the White House was that “prosperity is just around the corner.”
Don’t believe it? Check out this excellent compilation of New York Times clippings from early 1930 put together by Dan Alpert of Westwood Capital. There is nary a hint that anyone had any idea about the disastrous decade that was to come.
Dan’s complete compilation is contained in a broader research piece, which we’ve embedded at the end. The slides below contain excerpts from February-April, 1930.
Is the current pullback just a “correction” and a “buying opportunity”? Or, as in the spring of 1930, is it the start of the REAL market crash? You be the judge. Meanwhile, here’s what things looked like in the spring of 1930…
The Greatest Sucker’s Rally In History, Play By Play >
http://tinyurl.com/2fajllc
Peep all 21 slides in that play-by-play. Deja vu like a muuufuckah! “Recovery” in 1930 – ROTFLMMFAO!
-53% crash in ’08 vs -48% crash in ’29
+80% rally in ’09 vs only +50% rally in ’30
Rally lasted 12 months in ’08-’09 vs only 6 months in ’29-’30
Welcome to the GreatER Depression!
***Bid half off peak comps***
Isn’t part of the calculation that some of what’s coming out of the pipe is natural gas and some is oil?
Who said Court Pastry Shop has the best Italian Ices?
http://newyork.seriouseats.com/2009/07/nyc-italian-ices-desserts-queens-brooklyn-manhattan.html
um, NO.
Too watery and not much flavor.
Ralph’s is the best I’ve had so far!!!
Unfortunately, there are no Ralph’s in Brooklyn 🙁
“There was a pathetic commercial on channel 4 this morning during the today show with the BP CEO apologizing and saying he would fix things and basically on the verge of tears. ”
Wish we had Churchill around to teach these chiefs something. This is not a reality show on MTV.