How’s this for some chart-porn?
Just beautiful . . .
~~~
Acck! Would whoever sent me this gorgeous chart please reveal themselves? I cannot seem to find you name
History of the Dow
November 30, 2007 1:30pm by Barry Ritholtz
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Nicely tracks our country’s degradation from real goods-producing economy to finance-based consumption economy.
A beautiful picture of a tragic subject.
I clicked on the chart to zoom in on it and when I do so the colors are all wrong and worse, it only shows the top half of the chart and I can’t scroll down to the bottom half.
Anyway it’s really great. Thanks.
Cool graphic.
OT: Couple of NY pension funds suing Countrywide for fraud. They just started talking about it on my teevee.
Am I missing something here? Markets are up because Bulls refuse to see that there is no silver lining. Why is this world so biased against Bears? After all, we are only trying to put a little reality back into the world. Since when is it bad for the system to put the money in the hands of the people that know more about what really is going on? Doesn’t the reverse make markets less efficient? All that is happening now is making the little guy realize, even more, how much it pays to have power and influence and that hard work doesn’t really count. There is a slippery-slop happening in this country that is leading the entire system to doom.
justin don’t fret
as gertrude stein said “money never changes just the pockets”
it’s just taking a little longer this time for the flim flam men to get what’s left of “real money” out of their pockets (a quaint notion called capital adequacy requires them to hang on as long as possible)
during the time delay they are hoping someone else arrives to pass on the “fresh air” they will have on their 31/12s
BTW not to be off topic the Dow is merely an emotional statistic and I’m starting to wonder about the S&P
rgds pcm
I’m still short American Ice. Waiting to cover!
>>BTW not to be off topic the Dow is merely an emotional statistic and I’m starting to wonder about the S&P>>
That has not escaped my eyes either……The only thing rooted in any type of reality is the NAS……but the machine already piled into that weeks ago.
Ciao
MS
The bears here are talking the same talk as they did when the DOW was at 10k. They will be saying the same thing when the DOW is at 20k.
There is no ‘bear bias’. There is simply a structural upward bias in a global growth world (particularly with the liquidity flowing around).
So sure, you guys may be right about the US economy, but that’s so 1990. Now what matters is the GLOBAL economy, and much of the DOW participates in that.
Those of you who are so proud of yourself when you mention how inflation is actually higher than the ‘official’ numbers should also be aware that higher inflation = higher stock prices (since the companies selling their products are charging these higher prices, their revenues/profits rise with inflation).
I suggest you guys start participating in this market, because your 4% cash accounts are not going to make you rich.
Thanks for the advice Eddie. I’m now long 200% the Dow. Screw that Dow Theory thing.
with respect eddie
what’s your definition of liquidity?
the liquidity thats fuelling this market won’t pay your mortgage gas bill or christmas presents
don’t use big words that you don’t understand
rgds pcm
you make far too many assumptions Eddie….
But that suits what you call an argument.
You fail to realize how much help the market has been given to get it to this point. Just this week alone it’s had almost $70 billion just dropped onto it via repo.s….the Fed cannot continue to do that in order to get your poorly placed buys in the green.
But I never assume like you do….
Ciao
MS
now michael its not fair we both gang up on eddie at the same time
he and his fellow travellers might go away and stop giving us a laugh behind their back around the water cooler
rgds pcm
Hey Barry. Wasn’t it sent to you by John Paul Koning, the guy whose name and email are part of the white title area?
Wow, chart porn indeed.
If anyone’s interested, D-J has the info in smaller dosages:
http://www.djindexes.com/mdsidx/index.cfm?event=showAverages
Click a year, under “Dow Data”, at the left, and “Dow Jones Industrial Average Historical Component Lists” (pdf) in the middle.
–Ken
How’d ya like that Sherwin-Williams job at the close???
Nice fat brush…..
Ciao
MS
michael
hows that for a bounce in the last 3 minutes!
creates great market for we sellers here on Monday (to overcome burnt fingers in gold and oil) because all the advisers will tell their cannon fodder “the dow was up on friday and US interest rates are coming down there’s real confidence in global markets don’t miss out on the christmas rally”
BTW just to stay on topic for you dow 30k bulls how are your individual stocks looking or your ETFs for that matter
rgds pcm
Lookin pretty good my man. pre-tty pre-tty good.
Edward Tufte would approve.
How many degrees of freedom do you count? (“well it depends on how you count”).
The little pie charts at the bottom are the best part. Pretty remarkable how things changed drastically between 1920 and 1940, then were basically unchanged from 1940 to 1980, and then drastically changed again.
MS and Peter,
Respectfully, you got to give some credit to contrarians who occasionally post their thoughts here about liquidity and lowering rates trumping your (and my) concerns/complaints. Regardless of how well-represented bulls are in the rest of media, here they’re the minority. Let’s please not shoo them all away. :-)
FD: I suppose I say this in (large?) part because I agree with Eddie. I’m afraid I won’t know whether the global economy “decouples” from the US until the real money’s already been made or lost. (I.e., as for “better to be lucky than smart”, I guess I’m already not counting on “smart”.) ;-)
Decoupled or no decouple we are going down. How can 12% of GDP, make up for 70%? These are the percentages of Exports to GDP, and Consumer Consumption to GDP, respectively. Why is it that when our exports are weak, the Bulls say that they don’t matter, but when they are strong they are going to lead us to the Promise Land?
The colors are messed up, but I guessed the link to a clean version of the image.
http://tinyurl.com/2znxxa
US Debt and Reciprocal Money Expansion
This holiday will see a 300 billion or so US dollar increase in the American (and global) economy – a good percentage of those billions as credit card debt. Whether it is deficit spending for the Iraqi oil fields from the empty US social security lock box, buying holiday Chinese Snow Baby eqivalents on credit cards against personal future earnings, or too good to be true deals on 500,000 dollar homes unsupportable by American wage and cost of living inflation realities- deficit spending against furure earnings and tax collections – will temporarily, very temporariy at this point – push the economy on a very overstretched long string and likewise temporarily expand the money supply. The summation money and credit growth is exactly reflected in the daily growth and decay quantum valuation fractals and the summation of the evolving quantum fractal patterns of competing debt, equity, and commodity investment entities. Even the currencies follow the precise fractal growth and decay patterns found in The Economic Fractalist’ relative to each other’s valuations. The recent fractally predicted change in the valuational direction of the dollar – on the new blog ‘Lammert’ – against other world currencies is both a currency fractal saturation phenomena and can be qualitatively explained by the fact that most of the world’s debt is denominated in US dollars. The fractal saturation area of the Swiss Franc, Euro, and British pound is timed precisely when massive repayment is being called due by lenders and those indebted must sell other currency holdings (and gold) to gain dollars to repay that debt. The non US currency saturation area is also timed with the 11-14 week area of equity devolution – after which the dollar will have much more equity purchasing power. For the composite equities lowly New Century holds the secret of devolution. Observe the evolving New Century fractal pattern. On 30 November New Century closed down over 16 percent at 2 pennies even. (Both the 19 July 2007 and 11 October 2007 Wilshire highs were precisely predicted by saturation quantum fractal analysis.)
Its all about the labor supply stupid.