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The stealth bear market

Posted Jun 30 2008, 03:28 PM by Minyanville
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This barrage of economic non sequiturs has left us immune to any real measure of financial disaster beyond the amount of cash and coin in our pockets. We no longer even notice this process. We accept it and move on. That's one reason financial disasters seem to skate along public consciousness generating only a vague sense of dumbfounded awareness; it's a stealth bear market.

The New York Times tried to spell it out over the weekend - "Battered by Oil, Dow Touches Bear Territory" - but who can be bothered to pay attention to such things when there's wine to be drunk and bill collectors at the door? What does it mean?

What we know is that through Friday the Dow Jones Industrial Average was down 20% from the October peak. But, really, it's worse than that. The average stock in the Dow is off nearly 30%,  and some, like American International Group and Citigroup, are down more than 50%. Few on Main Street have noticed this, or even care anymore, mostly because they're busy pawning jewelery to buy gas and groceries.

Meanwhile, the economic data continues. It's relentless...

Top Stocks blogging partner Todd Harrison is founder & CEO of Minyanville.com. This post was written by Minyanville Executive Editor Kevin Depew. Excerpted from Five Things You Need to Know. Click here for the other four things.

Comments

 

Why kill myself Eli when I can just wait for them to lock me up next to you in a modern day concentration camps?  That's were all of this is heading.  Maybe you should start crying and then kill yourself for not being able to carry forward a logical progression of actions.  

I would advise anyone in an oil or energy stock like HUSA to get out now. It looks terrible

Auto/truck unions priced themselves out of the market.

The homeowner/mortgage fiasco was driven by greed.

Seed faith ministers are busy selling miracles or prosperity.

Individuals that are "victims" of lifestyle are attempting to link their problems with minority issues of race, creed, color, religion or sexuality.

Politicians have sold us out to drug companies

There is one central cause of each issue-you can't con an honest man.

Each issue is dependent on the inherent dishonesty of each so called "victim"

An sadly when caught-each victim confesses that they regret "the incident"-no admission of fault or guilt, simpl that they regret the incident.

Civilization will start over in 5..., 4...,3...

lake of fire is what is in store for the people in office that is running this country lets say they want to be on top of there game,well they will be the first to cook and mind your mouth the rag will be heard weather it is screeming or praising.

Do the words "when in the course of human events" mean anything to anyone?

what's goning to happen when working familys can pay their rent and feed thier children? Please someone tell me ?

It seems as though the main ones hurting right now are those making 25-50 thousand dollars.I'm talking about the ones working at gas stations,dunkin donuts,the malls,and millions of other people.I'm retired and make 325 a wk.High food and gas and clothing deff hurt me.I'd like a new car(which everyone thinks will help)When the low income make what the largest percent of the population is how do they buy a new any thing.The multi millionares do not care about the average person.I read it all the time"the little people".That should tell you some thing.

I hate being lied to by my state rep, president, doctor, lawyer, insurance agent and all the rest.  Surely when just several years ago our president was telling everyone to become a homeowner and please buy a big gas hogging SUV (with unbelieveable rebates to boot.  WE the Americans were suckered in...So tired od this stuff.... Let's make the president and all below hime accountable for what they do.  What every happened to 1,2,3 strikes and your OUT; are there exceptions to the rule for a select few?   I had always supposed the goverment was for the people ( as seen in black and white)   I have no suggestions other than get out of debt and really watch your dollars - cause if you ain't watching your dollars no one else is..

HONESTY IS THE BEST PICTURE OF WASHINGTON,WHERE THEY SIT BACK AND DO NOTHERN.OIL FOR HOMES,COME WINTER PEOPLE WILL DIE BECAUSE THEY WILL BE SO COLD.WHILE  OUR LEADERS SIT BACK AND WATCH IN THERE BIG OFFICE.THE WORLD IS IN A BIG MESS NOW,AND NO ONE KNOWS WHATS GOING ON AROUND US.HONESTY THATS THE WAY IT IS NOW.NO ONE KNOWS.I THINK WE NEED A NEW LEADER LIKE OBAMA.HE HAS BEEN THERE VERY POOR,AND UNDERSTANDS THE POOR MAN.HE HAS MY VOTE.WHAT THE USA NEEDS NOW SOME ONE WHO KNOWS WHATS GOING ON IN THIS WORLD,BEFORE SOME NATION TAKES US ALL DOWN.ITS COMING FAST BECAUSE KNOW ONE KNOWS WHATS GOING ON IN THERE OFFICE.PLEASE SHARE WITH ME.      USA LOVER...

WILL SOME PERSON PLEASE COME UP WITH A GOOD IDEA TO HELP THE COLD STATES WITH FUEL THIS WINTER.PEOPLE ARE GOING TO FREEZE TO DEATH OR COME DOWN SICK BECAUSE THEY CAN NOT AFFORD THE PRICES OF HEATING FUEL.OR STAVE TO DEATH.MONEY IS SO HARD TO RAISE FOR THE POOR.THE RICH HAS ALL THE BLESSINGS.FOR NOW.OUR LEADERS ARE NOT ON THE BALL TO HELP.BECAUSE THERE TUMMYS ARE FULL.FOR NOW.I SEE A BIG BIG DISASTER COMING REAL SOON IN THE USA.HUNGER AND HUMANS FIGHTING FOR THERE RIGHTS,AND DREAMS HOPE.WE NEED MORE HUMANLY HELP.AND MORE BRAINS WORKING FOR MAN KIND.PEOPLE GET THERE JOBS IN THE LEADER SHIP ROLL, AND DO NOT FOLLOW THOUGH,YES THE PEOPLE WE VOTE FOR.THEY JUST TAKE THERE MONEY AND RUN ,AND VOTE FOR MORE MONEY FOR THEM SEFTS,AND FORGET THERE PEOPLE WHO VOTED THEM IN OFFICE.I SEE THE WORLD TODAY IN MY EYES,FALLING A PART FAST.BROTHERS AND  SISTERS FIGHTING OVER WHOS GETTING A HEAD FRIST.THINK OF HOW MANY PEOPLE AS YOU READ THIS IS STAVING AND WITH PAIN,THE WORLD NEEDS A PLAN THAT DOES NOT COME OUT OF WASHINGTON,VERY FAST BECAUSE LIFE IS DIEING FAST.MAN IS KILLING HIM SEFT EVERY MINUTE.WE NEED TO WAKE UP FAST AND REPENT.GOD HELP OUR LEADERS IN WASHINGTON LORD THEY NEED IT NOW AMEN.              DAVID

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