Sunday, April 18, 2010

We Invest, Therefore We Are

If you need any more evidence that the stock market has become the most important barometer and determinant of public psychology -- with the Fed as Keeper of the Flame of National Purpose -- see this Newsweek cover. I wonder how well it's selling anywhere in this country that's west of Grand Central Station. If the Dow was at 9000 instead of 11000, and most of the current economic and sentiment measures were the same, would that cover have run?

A classic mistake that investors make during the tail end of recessions is staying too negative too long. But one of the lessons of the most recent boom/bust is the importance of what one sees as opposed to what one reads (especially in advertiser-driven mainstream magazines). I snapped this photo two weeks ago in one of Manhattan's prime retail areas: Columbus Avenue/the 80's. If you can't read the sign, it says, "I need your help! Sale! Please come in. Help us make it thru these times." There were several empty storefronts within a few blocks each way. And remember, this is Bailout Central:

Now look at this magazine cover again.

Then again, a couple of weeks ago the Dow was a few hundred points lower. Maybe that sign is long gone.


Anonymous KAIMU said...


There were a number of stock market rallies during the Great Depression but it took a World War that practically destroyed Europe and Asia before the good times rolled again. I believe we are looking at a monetary crisis papered over with faux FASB accounting and "debt derivatives". One such debt derivative is known as a USD.

The "real economy" operates on jobs and not just temp jobs at Macys. According to the NFIB the sentiment indicator dropped another 1.2 points to 86 for the month of March. The NFIB SMALL BUSINESS SENTIMENT INDICATOR has never been below 90 in history. In America small business makes up 97% of all US employers and is responsible for over 95% of all US exports. Oddly enough during the Obama Jobs Summit nobody from the NFIB or small business was invited. Only Fortune 500 execs and union bosses ...

I have to ask what it is that store sells? Perhaps they are having trouble because they are trying to sell Howard Kossel memorabilia!

4/19/2010 9:33 AM  
Anonymous Jenny said...

Hi:) have a good day. Thank you for informative.

4/20/2010 8:49 AM  
Anonymous Anonymous said...

Wow we're back. My friend in KY who has been unemployed since 12/08 obviously hasn't gotten the news.

4/20/2010 4:08 PM  
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