I’m not in the “Great Depression II” camp but stats are stats and this has been a brutal year for the indexes. Does it foreshadow a coming apocalypse or is the worst behind us? I have no idea but what I do know is the markets will continue to surprise and frustrate us in 09′ and probably do exactly the opposite of what any of us suspect.
|
The rate of decline has been astonishing to say the least and in the past twelve months, the Dow Jones Industrial Average (Dow) has seen its worst one-year performance – ever! It is interesting to observe that the Dow’s recent plunge has been even worse than the 1929 decline which preceded the Great Depression of the 1930’s (Figure 1). So, are we really witnessing the end of the world as we know it?
|
|
|
