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Posted: **Tue 21 Feb 2012, 13:41:00**

AirlinePilot wrote:OF, you have had the wool successfully pulled over your eyes. Short term does not a market make. You can come back here next year or in 18 months when the market is at 13000 and I'll eat my internet hat!

Ok, it took 22 months, but regardless is it time for AP to eat his internet hat?

Dow 13,000 May Finally Lure Investors Back Into Stocks

Crashing through psychological milestones usually makes for a good headline but rarely means anything to the professional traders on Wall Street. Dow 13,000, though, could be different.

Posted: **Tue 21 Feb 2012, 13:43:13**

Hmmm. He did seem to stipulate a year to 18 months, so I reckon the hat can remain uneaten.

Posted: **Tue 21 Feb 2012, 13:48:44**

Its hard to predict the timing of bubbles in the stock market.

Posted: **Tue 21 Feb 2012, 14:18:47**

pstarr wrote:
davep wrote:Hmmm. He did seem to stipulate a year to 18 months, so I reckon the hat can remain uneaten.
Considering what real (not the government-cooked version) inflation has done to that 13,000. In real money the DOW is right about 6,000 and dropping before dinner.

Exactly.

If the Fed prints enough cash and hands it to banks who then buy stocks, we could have a Dow 30,000. *shrugs*

Posted: **Tue 21 Feb 2012, 14:20:45**

Anti> As the ZH posted today about it and as pstarr in his post enumerated above, go ask some 1920s surviving veteran about these nominal gains. When marked to reality (inflation and metals) the Dow is still in collapse..

Posted: **Tue 21 Feb 2012, 14:34:05**

zh? Please, I use ZH printouts as Toilet Paper.

Posted: **Tue 21 Feb 2012, 14:45:12**

Mesuge wrote:Anti> As the ZH posted today about it and as pstarr in his post enumerated above, go ask some 1920s surviving veteran about these nominal gains. When marked to reality (inflation and metals) the Dow is still in collapse..

I'd be more interested in seeing an *inflation* adjusted chart, that would accurately reflect central bank cash infusions.

The thing with gold is.. there can be more wealth in the world then there is gold. I'm assuming population has grown more than worldwide gold inventory, so that has to be factored.

Plus, what is wealth anyway? The physical amount of gold on earth? The authority of government? Is oil the measure of wealth? Diamonds? A Picasso? Intellectual property? You can't eat any of that, so really the availability and cost of food is the best adjustment and ultimately how much oil is left and to what degree we've ruined the planet and the ability to feed everyone.

Posted: **Tue 21 Feb 2012, 15:16:32**

TheAntiDoomer wrote:zh? Please, I use ZH printouts as Toilet Paper.

Did you mean for that post to go here :?:

Posted: **Tue 21 Feb 2012, 16:50:22**

In that quote, AP said absolutely nothing about real or inflation-adjusted gains. It was pure and simple:

OF, you have had the wool successfully pulled over your eyes. Short term does not a market make. You can come back here next year or in 18 months when the market is at 13000 and I'll eat my internet hat!

Notice he just said, "... when the market is at 13000." He did not say, "...when the inflation-adjusted market is at 13000" or, "... when the real value of the market is at 13000." No qualifications were given whatsoever. So, doomers here trying to give him an excuse are themselves making up excuses.

Posted: **Tue 21 Feb 2012, 17:07:44**

BTW, speaking of AP, I'm browsing through the stock market thread, and around Sept-Oct 2009 he really started getting ... nervous. Total denial. :lol:

Lots of doozies around ppg 55 through the sixties. For example, this one

AirlinePilot wrote:... If you stay in this market be forewarned..no country which has embarked on the monetary policy which we are currently engaged has sustained the kind of market moves we have seen in the last year. The markets are being manipulated and artificially propped up by an unsustainable effort which at some point will fail. There is Fraud here the likes of which no one has ever seen and investing your hard earned money into this giant Ponzi scheme is riskier and stupider than ever. They want you to feel left out so you can throw it all right into their pockets. I'm not fooled by it, but so many will be....

And then later on that same page I told him, in response to that, and reminding him of something he said in 2009:

OilFinder2 wrote:It is now 10 months later. If I had told you back on May 8 that the Dow would be north of 10,800 in late March, you would have laughed in my face. You are loathe to admit us cornies have been right.

Funny stuff! :lol:

EDIT: BTW that's the same page AD's quote came from.

Posted: **Tue 21 Feb 2012, 17:52:45**

The DOW does not imply a healthy economy. Did people forget how high it was just before the 2008 crash?

Posted: **Tue 21 Feb 2012, 18:03:07**

Cog wrote:The DOW does not imply a healthy economy. Did people forget how high it was just before the 2008 crash?

The point is to praise Obama for the DJIA.

Posted: **Tue 21 Feb 2012, 19:12:44**

Perhaps in 10 years to DOW will hit 150,000 and a loaf of bread will be $20 and an ounce of gold will be $20,000.

Posted: **Tue 21 Feb 2012, 23:52:42**

OilFinder2 wrote:Notice he just said, "... when the market is at 13000." He did not say, "...when the inflation-adjusted market is at 13000" or, "... when the real value of the market is at 13000." No qualifications were given whatsoever. So, doomers here trying to give him an excuse are themselves making up excuses.

OF, you're a smart guy. This market is just cash from the Fed discount window. You know that's true. I'll say it a second time, if the Fed wants to print enough cash we can have a 30,000 Dow.

I was watching CNBC today and this analyst commented that the market "is all institutional investors now." Well that means banks, that means Goldman Sachs and the hedge funds and Oilfinder they get free cash money from the Fed discount window, they turn right around buy stocks with it. So go easy on AP about his posts from a few years ago -- what's been going on since then, our central bank printing cash to hand to banksters to buy stocks and Greek bonds, this is all very new we've never seen anything like this ever in the nation's history. It was all a great monetary experiment, the experiment is ongoing, and we've yet to see where it ends.

How bad will the inflation get.. how long can the government deny the real inflation rate.. all I know is gas topped $4 a gallon in California the other day and an enraged motorist threw gas cans at the dude changing the sign price. Keep crowing about your 13,000 inflationary dow, gas could be $5 a gallon by summer.

Posted: **Wed 22 Feb 2012, 03:18:15**

Sixstrings wrote:Well that means banks, that means Goldman Sachs and the hedge funds and Oilfinder they get free cash money from the Fed discount window, they turn right around buy stocks with it...

Breaking news, just out a short while ago

As of Feb. 15, no banks were borrowing from the Fed’s discount window.

Sorry, try again! :lol:

Posted: **Wed 22 Feb 2012, 04:14:19**

What Sixstrings wrote. But count on Oily to imagine that funny money is actual wealth.

Posted: **Tue 28 Feb 2012, 17:13:26**

It's now officially official. :lol:

13,005.12

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