Industrials: Biggest 2 Day Rally Since 1929

September 20th, 2008

Some interesting charts at Big Picture.

Research Credit: BW

Posted in Economy | Top Of Page

One Response to “Industrials: Biggest 2 Day Rally Since 1929”

  1. Loveandlight says:
    September 20, 2008 at 7:34 pm

    Good parallel. The way I see it, the best that can happen at this point (and this scenario is one of seriously insane Pollyanna-optimism) is that all the pain we were going to receive from all the irresponsible corporations crashing and burning is going to be parcelled out over time into a very long-lasting period of very subpar economic performance. The choice is every bit as stark as either having to pay off the credit-card bills or go into massive default and bankruptcy.

    And in a society where the relative distribution of wealth is as seriously skewed upward as it is in the USA, that spells very bad news for anybody who is not a member of the elite or one of their hangers-on (the word “lackey” is a tad too Leninist for yours truly). And as some people on Reddit.com have pointed out, it’s truly sad that we can cobble together this gigantic wad of cash to bail out our irresponsible plutocratic class but not to get a single-payer national health-care system for the people of this country.

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