Tuesday, May 12, 2009
The Pathological Weakness of the Financial Memory
Arianna's got a good one today.
Yesterday we were in the car and Suellen had a stock market program on the radio. I was amazed that two of their "stock market analysts" said we're now in a bull market. The economy is not in free-fall right now, and that's a major accomplishment. But the economy is still shedding jobs left and right.
Here, via dshort.com is your bull market (the dark blue line shows market performance since October 2007):
We're not out of the woods yet, folks. Not by a long shot.