Monday, October 13, 2008
Kate MacMillan at Small Dead Animals has posted a link to a financial graph that she thinks is re-assuring. Stocks, she and her neo-con friends believe, are simply finding their value.
First, notice the dishonesty of the graph. It ends in 2007, just when the market started going south. That was a million years ago in market time. 2007 sure ain't 2008.
Yup. Tory times are good times. Neo-cons really know how to help.
See all those places where the market went from a really high peak to a really deep low? The biggest peaks to the deepest lows? They were in 1939 and 1981. Starting in 2006, we're on a slide down from the biggest peak ever. And every peak has, so far, been followed by a deep low which -- strange coincidence -- was an economic downturn or post-war economic restructuring. (Even after WWII, millions lost their job. These people were called "women"). Click the graphic for the big picture. Take a good, long look.
If you are re-assured, you don't know how to read a graph.
Happy days are here again, right Kate?
And if Harper's re-elected, you're on your own in this thing. Do you feel lucky? Do you make your income off one commodity? Live in a one-industry town? Have a mortgage? Worried about retiring? Planning on getting EI if you lose your job?
I lived in a small town during the early 1980s. For the life of me, I can't understand why anyone in small-town Ontario would vote Tory.
(BTW, if you think recessions are cripplers for the middle class, wait to you live through this.
It will certainly clear up your debt problems, but make sure you have lots of canned goods and no need for any purchases for about a year. I think we may be OK in Canada but the US dollar is way, way, way over-priced. The reason it's up is because people are converting equities into US cash and selling foreign currency to "go liquid" in US dollars and, to a lesser extent, yen, which is probably a big mistake. That won't last long.)