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The Dow’s decline and fall
Source: The Nation
Author: Nicholas von Hoffman
Posted on 10.06.08 by Steve Trinward

“This is one of those days your financial adviser never told you about. The Dow Jones Industrial Average dropped below 10,000, taking with it the savings of millions. How the money runs out and goes who knows where! Below 10,000 is below a magic line, the line the hard-times barbarians were not supposed to breach. Since the Dow ascended the heights above the line in 2004, it has been an article of faith that it would not go below 10,000 again in our lifetimes. The price of stocks is not the only thing that is going down. … Gold, which is supposed to be the last and safest refuge when trouble storms across the economy, is no haven of protection in this hurricane.” (10/06/08)


Link: http://www.thenation.com/doc/20081020/howl2

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