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Was The Sky Really Falling?

December 19, 2009 Leave a comment

Dow Jones Industrial Average (DJIA) – 10385.48

Standard & Poor’s 500 (S&P 500) – 1162

Nasdaq Composite (NAS) – 2034.56

Any idea where those numbers come from? Those were the market numbers exactly five years ago on November 10. Is it any wonder that these numbers are just a little bit higher than November 10, 2009’s market finish. Why am I referencing market numbers from five years ago? At that time, these numbers were good. These days, the numbers aren’t necessarily good, they’re generally just up for debate.

Because the Dow Jones has peaked above 14000 in 2007, today’s (12/18/09) finish of 10328 is pretty mild. But if you look at where the market was ten months ago, today’s number is pretty rosy. Exactly one year ago today, the sky was falling on the world. America was screwed, the market crashed, George Dubya Bush was destroying the galaxy and the American people were paying for it.

Was the sky really falling?