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The Great Depression wasn't characterized by a single stock market drop. It was characterized by massive volatility, just like we are experiencing today. Up 6%,
by andrewljohnson 18y ago
The Great Depression wasn't characterized by a single stock market drop. It was characterized by massive volatility, just like we are experiencing today. Up 6%, down 20%, over and over.
The economy will be down for the next decade or so, and that's all there is to it. After the Dow loses half it's value, a 6% up-tick in the market is absolutely nothing worth dwelling on.
As for your actual analysis, your three points are glib and facile. A quote from Bernanke isn't going to have any long-term effect on the market, nor will a good quarter from Citigroup. Any profits Citigroup has are on the back of the American taxpayer.
Give me billions of dollars and I'll post a profit too.