Quote:
Originally Posted by saden1
No, I'm just Tom Daschle's chauffeur.
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lol!
I found this chart to be interesting (If the market ends up down 89% from it's all time high of 14,000, then our friend Chimpy will have made monkeys out of all of us) The slightly scary thing is that it took Dow 25 years to get back to the 1929 high. So, once the market bottoms, we may not see a 90's style rocket ride back to 10,000 (which I think is what many of us are assuming, I think). It may be a more uneven climb. When people say "if you're in it for the long term", "long term" may be the rest of your working years.
The Dow and the Great Depression
- The Dow peaked at 381.17 on 9/3/1929
- Crashed on 10/28-29 falling from 301 to 230 or 23.6%
- One year after the peak (9/3/1930) the Dow closed at 237.54, down 37.3% from its peak (vs. the 39% drop we saw as of yesterday's close from the 2007 peak)
- Continued to slide until 7/8/1932 where it bottomed at 41.22, down 89.2% of its value over 2.5 years
- The Dow did not cross above 381 again until 11/23/1954, over 25 years after its 1929 peak
