Market:The market indeed fell 4% last week (as I predicted). I follow the Q's (QQQQ) or NASDAQ 100 composite and it went from a high of 38.1 down to 36.6 early this morning. I expect the price to go down 1% and if it breaks through that level it'll head further down for a net of 4-5%. If it doesn't break through it'll go back up to 37.10 and then head down.
The Crash:I've been filling my head with all sorts of books with dire warnings:
Financial Reckoning Day and Conquering the Crash. It seems there are lots of books on the market right now that are predicting a coming market crash. I just went to the book store and found two more. The arguments are pretty much the same with lots of Libertarian/Objectivism viewpoints sprinkled in there. It's truly depressing stuff. Add to that the notion of "peak oil" and it's enough to make a citizen downright nervous. About the only thing I am taking solace in is the fact that it took us a while to get here and it's going to take a while to make it to the bottom (which isn't necessarilly a good thing but at least there should be some time to get ready). It sounds like it'll be a rough ride though if these authors are correct.
9-11:And if all this economic talk weren't enough, while at a friend's house the other night a caught a few minutes of a cable access show on the September 11th conspiracy. I don't typically believe shite like that but there were a few compelling items (especially the plane/missle that flew into the Pentagon stuff). Hey, wanna waste a few days of your life? Start doing Google searches on
Silverstein lease,
WTC 7 demolition,
Cheney war game,
Flight 77 shot down,
Pentagon global hawk, etc. Wow, there is a lot of stuff out there and most of it is really interesting. One could spend a lifetime going through all of it. Needless to say, I wasn't feeling very patriotic this 4th and the fireworks over Pier 39 reminded me more of the "shock and awe" we performed on innocent Iraqis than feeling good about our experiment with democracy.
"The only way our enemies can succeed is if we forget the lessons of September 11."George W. Bush
