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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

 

the sun came up this morring as yesterday did,and the last million years.man has been here that long to.wonder why man has not learned how to live?because of greed...greed back fires every time,look at all the big wars,and small wars,ITS CALLED GREED, man wants what the other man has.the only way man can make it

is this, work together,play together,and be like brothers and sisters.honesty brings love,not greed.once man learns that greed kills,he will become a teacher of love.love makes full  joy of living.be nice to your land ,bless the seeds u put down.we will all grow.plant that seed today,both works.i love the usa.look at this years cost of living.....is it because of greed ?  answer....YES  ....David

you may thing that I am nuts,but wait tell next year.you think we have seen it all,banks going under,jobs lost,companys shutting down.people spending  there savings,millions of foreclosers,cheap wages,oil at its highest in man kind world.cost of food,rents going to the roof.light bills going sky rocket high.more crime is going up day by day,more dope coming in the USA by the truck loads,cost of insurance going up by the hr.we need more law help crime is on the run.taxies are killing the pay checks.milk cost more then gas,have i said any thing that i have not been right on yet???????yes wait tell next year this time.......when milk cost more then gas by the gallon,the end is near.houses going to the dumps ,why because every thing you need to fix the house run down its cost to much on small wages.have u ever drove down the citys and looked at the old houses,why they are felling down before your eyes.no up keeps.why because no money.fishman not fishing any more like they used to because of gas and bait.why do we need washington DC now its gone to the pot.....the world gone to h       elll.

YES ITS MAN HIM SEFT.........TELL ME WHO U GOING TO VOTE FOR THE SAME FAMILYS ...NOT ME. I LOVE THE USA...I JUST SEE THINGS HAPPENING...WAKE UP WASHINGTON..........GOD HELP MAN KIND....A MEN   OH I FEEL PAIN COMING.....DAVID

I AM JUST TO TIRED TO WRITE MY COMMENT TONIGHT.MY HEAD IS MESSED UP WITH TO MANY PROBLEMS IN THE WORLD TODAY.PLUS I AM SICK OF THE BAD NEWS ALL OVER THE WORLD.WHAT I NEED IS A BREAK FROM IT ALL.I AM GOING TO BED NOW,AND REST UP.LIKE WASHINGTON DC IS DOING,THINK THAT WILL HELP ME?                JUST TIRED .

                                        DAVID.

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.I JUST READ THIS AND WANT TO SHARE IT WITH YOU ALL.................WHOS LIEING...............?MORE MONEY FOR OVER SEAS...TO BOMB US WITH....DOWN DOWN THATS ALL I HEAR FROM WALL STREET.OVER SEAS GOT THERE HANDS OUT DAY AND NIGHT..CHINA SENDING LEAD IN THERE TOYS FOR OUR KIDS TO EAT.BRING HOME OUR BOYS AND PUT THEM ON THE STREETS TO CLEAN UP THE DOPE MESS.IT WOULD TAKE A FEW WEEKS TO CLEAN UP OUR STREETS.THE LAW IN FORCEMENTS ARE TO SCARED TO PICK UP THE KING PINS BECAUSE A LOT IS ON THE TAKE.OUR GANGS ARE GETTING BIGGER EVERY DAY!!!!!!!CAN THE LAW CLEAN IT UP H  ELL  NO.WHERE IS THE SMARTS IN THE USA ?USA I LOVE,AND IT NEEDS TO BE FIXED FAST BEFORE WE HAVE TO HIDE FROM THE STREETS.I WOULD,NT WALK THE STREETS AT NIGHT,WONDER WHY?WHY IS THERE BARS ON HOUSES AND STORES?IS A LAW MAN MADE OR DID THE CROOKS PUT THEM ON ?WHY DO WE HAVE LAWS?

EVERY CITY I GO IN THE WINDOWS ARE BARED UP.WHY?ARE THE COPS ON COFFEE BREAK,IF THERES NOT ENOGHT MONEY TO RUN OUR SMALL TOWNS SHUT THEM DOWN,YES LESS CRIME.WE NEED MORE COPS ON OUR STREETS.WITH BETTER PAY.I THINK MORE TAXIES SHOULD BE MORE THEN WHAT THEY ARE FOR MORE COPS WE NEED LAW NOW NOT NEXT WEEK.JUST ;LOOK AROUND DOPEIES WALKING AROUND DAY AND NIGHT ON OUR STREETS,PEOPLE DIEING IN OUR CITY ALLYS.SLEEPING IN BOXS.

wake up usa now before its to late...........can any one put what i said in a better way if so please do.ps. IF THIS IS OFFENSIVE LANGUAGE DO NOT POST IT.

                               DAVE             GOD BLESS THE USA.

SOME TIMES I GET SO STRESSED OUT THAT I WISHED THAT BIG BIG BOSS OF OURS WOULD COME AND TAKE US ALL A WAY TO THAT GREAT NEW HOME IN THE SKY.

                                         DAVID

you know that when theres no money to live on anymore like theses hard days now, and a head,the people will start there brains working !!! like robberys,there will be no banks to rob because they are shutting down by the dozens a day.read up on it in the papers and news.watch wall street,buy the papers and check it there to.turn on your tv sets to the news.how is it looking today?YES ITS BAD.REAL BAD,WORST EVERYDAY,LIKE YESTERDAY THE DOW WAS OFF 283 POINTS,WOW WHERE IS THAT MONEY GOING?U GOT IT FIGURED OUT?

DAVID

LQQK WHAT I SAID YESTERDAY OR THE DAY BEFORE!!!!!CARSON CITY, Nev. (AP) - Twenty-eight branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators.ITS HAPPENING ITS GOING TO HAPPEN AGAIN TO BIG TIME.....WAKE

UP WASHINGTON DC.    WE NEED TO PUT THE BRAKES ON NOW.STOP THIS NOW

WHAT I THINK IS THIS ITS A INSIDE JOB,ITS IN EVERY BANK HIDING TO MAKE THE RIGHT MOVE,WHO IS THIS GUY?FIND HIM PUT THE BRAKES ON HIM OR HER.

WHAT ELSE IS IT.CROOKS LEANING OUT BAD LOANS.HIGH INTEREST IS BITEING THE BANKS IN THERE WALLETS OK YOU PUT THE RIGHT WORDS IN THIS MESSAGE OK...READ THE LINES......WHAT U COME UP WITH THATS TRUE.HIGH INTEREST RATES GOT THEM BY THE DIEDLOCKDOOR...ITS OVER NOW.WHERE DO WE START OVER NOW?I AM STRESSED GOING TO BED.YOU FIGURE IT ALL OUT I TRYED.WATCH YOUR PENNYS I SAY...ITS ABOUT ALL OVER.

THE BANKS ARE HIDING SOMETHING ON US.LETS BRING IT ALL OUT FOR WE CAN FIX IT RIGHT.BRING DOWN THE INTEREST RATES...............DAVID

McCain IS clinging too closely to Bush's economic approach. Polls show a majority of voters prefer the leadership of Obama and Democrats on the economy,TKANK GOD FOR OBAMA.McCAIN  IS OLD AND HE HAS VERY VERY FUNNY IDEAS JUST LIKE GEORGE OLD WAYS ABOUT THE REP PARTY HAS TO GO.FOR GODS SAKE VOTE FOR OBAMA......I AM.ALL THE WAY.I HAD A DREAM OBAMA IS OUR LEADER ALL THE WAY.          FOR GET ABOUT THE McCAIN VOTE,HE IS GEORGES RIGHT HAND MAN ALL THE WAY. PSPSPSPSPSPSPSPS CAST YOUR NEXT VOTE TO

                       OBAMA  I AM.             THANK GOD FOR OBAMA            DAVID

lets clean up the streets in our citys and towns,with jobs,and clean up the dope from our kids.ONE WAY TO DO IT IS VOTE FOR OBAMA...............OBAMA THE GOD FROM HEAVEN...HE IS LIKE JFK.FOR THE PEOPLE.

THIS IS NOT OFFENSIVE LANGUAGE...............I HAD A DREAM OBAMA IS NEXT TO BE OUR TRUE LEADER OF GOODNESS,GOD BLESS THE USA.

PRAY FOR OBAMA LEADER SHIP ALL SO.LETS MAKE HIM THE NEXT HIGHEST  NEXT TO GOD.CAST YOUR VOTE.....A MEN

                                      IT TAKES GOD AND OBAMA WORKING TOGETHER TO CLEAN UP THE WASHINGTON DC   BIG BIG BIG MESS.ONCE AGAIN PLEASE VOTE FOR OBAMA FOR THE USA CAN SLEEP NIGHTS IN PEICE.THANK YOU FOR READING THIS COMMENT.     LOVE    DAVID

my head is to messed up tonight to write any comments.well maybe just one small comment.we the people are in deep water,trying to tell someone help me now.where did the leaders go?no help!!!its the new pass word now ,HELP.

ps.WASHINGTON DC SAYS NOW WHAT HAPPEN,DID WE TAKE A LONG VACATION???AND THE USA ALL WENT OVER SEAS. OH WELL GUESS U GET THE PICTURE. DAVID

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