The U.S. stock market is poised to end the year with a comeback of historic proportions, with the Dow Jones Industrial Average up 61% from its March nadir and 20% on the year…..
With one trading day remaining in 2009, the Dow is on track for its biggest annual gain since 2003, when it rose 25%. It finished Wednesday up 3.1 points, at 10548.51, a fresh peak for the year and the highest since October 2008.
See also:
Dow 30,000 : Zuccaro, 2008.
Dow 30,000: Sharma, 2008 (astrological finance).
Earlier estimates were overoptimistic, though Glassman wasn’t too far off:
Dow 100,000: Kadlec, 1999.
Dow 40,000 : Elias, 1999.
Dow 36,000 : Glassman, 2000.
In fairness, even the WSJ felt the need to insert a hedge:
But the history of such comebacks suggests the biggest gains may already be over, making it hard to expect a blockbuster 2010.
.
This year, next year, Santa Claus bring cargo. Trust me. Happy Holidays.
P.S.: Frum cargo cult. David denies involvement, just like he always does.
Trollblog 
December 31, 2009 at 5:37 pm
Some of the Amazon reviews of Dow 30,000 are great: “At least I’m reassured by the fact that this guy’s probably now living in a cardboard box under an overpass”
January 1, 2010 at 1:57 am
The U.S. stock market is poised to end the year with a comeback of historic proportions
It’s poised to end the two year cycle with a fall of epic proportions. Whee!
It finished Wednesday up 3.1 points, at 10548.51, a fresh peak for the year and the highest since October 2008.
And then everyone dumped today! Whee! And we end the decade down, unlike every other decade (including the 70’s), but like the one other down decade, the 30’s.
But the history of such comebacks suggests the biggest gains may already be over, making it hard to expect a blockbuster 2010.
Which is why Ben Bernanke must give more free money to rich people.
This year, next year, Santa Claus bring cargo. Trust me.
Big helicopter! Huge cargo! Many many hookers and oceans of crack! Hookers will surf their way in on rolling waves of crack, each hooker accompanied by her twin sister, to land on our beautiful beaches made of pure cocaine… and they will each bear two ice cold six-packs of Corona, veritable Aphrodites of Crack.
I guess the stock market is like football (with beer commercials) for button-down types.
Your link to Frum is broken. [Fixed].
max
[‘You know the hard part has got to be keeping a straight face while selling this stuff.’]
January 1, 2010 at 2:05 am
Hookers bearing Corona will be sent back to their ever-loving mothers. No clear-bottle beer for me.
January 1, 2010 at 2:22 am
John! It’s not your dream. It’s not my dream. It’s the dream of DOW 36,000 which must look like a TV commercial. (God knows, a beach made of coke lapped by a sea of crack must smell bad, and the hookers probably look like freakish anime – rail-thin concentration camp victims attached to enourmous saline-filled plastic balloons.) Yuck.
But it’s a dream and it’s their dream… the dream of the WSJ.
Besides, at least Corona beats the shit out of Pearl, or whatever crap the hipsters are drinking these days.
max
[‘If we must drink urine, at least let us have our lemon.’]
January 1, 2010 at 2:34 am
You’re not sending me any hookers? Damn.
January 1, 2010 at 1:39 pm
I’m sure we can spare some twins out of our flowing cornupia of free market abundance. You’ve just got to VISUALIZE!
(Have ye noticed that the New Age prosperity theology types sound like their pushing something basically identical to Chinese prosperity (folk) magic? I’m guessing that’s direct (but unidentified) cultural transfer, but I’m not sure.)
max
[‘Pagan is such an icky word. We prefer evolved.’]
January 1, 2010 at 2:51 pm
And Michelle Bachmann and Sarah Palin have the glassy-eyed high-energy optimism that I associate with amphetamine use. Rumsfeld and Caspar Weinberger had the steely-eyed male version of that.
I’d love to drug test those two. My bet is that they’re hopped up on prescription mood enhancers all the time.
Seriously. Prosperity theology is very indulgent and modernist.
January 2, 2010 at 11:19 am
Dear Emerson,
I have a problem. I worry that I’m starting to see you as a role model. How might you suggest fixing this?
best,
X. Trapnel
January 2, 2010 at 2:39 pm
Volunteering for the Democrats should work. Takes the starch right out of you.
January 2, 2010 at 6:44 pm
“Prosperity theology is very indulgent and modernist.”
It’s built into the very heart of modern regimes. The doux commerce thesis?
January 2, 2010 at 10:46 pm
Nah, I just meant that it’s not severe on its people like fundamentalism is, tending almost to the “sin so you can repent” end of the scale, and more wishful and cornucopian.
Pentecostals and revival Christians tend toward sin-and-repent, prosperity theology is just a rich man’s version of that. The famous DC “Family” seems to specialize in rehabbing whoremonger politicians. (Oddly, Hilary deals with The Family, it’s funny that she couldn’t get a referral for her sleazy hubby.)
January 4, 2010 at 4:11 pm
I misspoke–“role model” s/b “tragic destiny”. At any rate, do you know whether the Lulu thing is supposed to automatically mail me my ebook, or what? Perhaps I missed seeing a “click to Dow load” link.
March 23, 2011 at 12:22 pm
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