October 11, 2008

We said trillions would be lost. Trillions and trillions and trillions. Investors in American stocks have lost $8.4 trillion in the past 12 months.

All because of houses.

Let that sink in.


F*cking houses.

Come on. How stupid was that?

Investors suffered a paper loss of $2.4 trillion for the week, as measured by the Dow Jones Wilshire 5000 index, and for the past year the losses have totaled $8.4 trillion.

It was even worse overseas on Friday. Britain's FTSE index ended below the 4,000 level for the first time in five years; Germany's DAX fell 7 percent and France's CAC-40 finished down 7.7 percent. Japan's benchmark Nikkei 225 index fell 9.6 percent, also hitting a five-year low. For the week, the Nikkei lost nearly a quarter of its value. Russia's market never even opened.


Professor Ichiro Vader said...

We're hitting lows from 5 years ago. Just... 5 years ago. I still think this is nothing. This isn't panic.

We used to talk about being in the second inning. Well, guess what. We've only made it to maybe the top of the 4th inning.

The fan's spinning....

The shit's flying...

But I'm still clean.

Anonymous said...

Pretty soon we're talking real money.

Anonymous said...

so what does that leave about 52 trillion in derivatives left to go??

pulte homes up said...

It doesn't matter.

PHM was up on friday.

Honeygo Beasley said...

Old American Dream defined:
Home Ownership.

NEW American Dream:

Anonymous said...

New American Dream:
Thinking for yourself! There doesn't have to be a universal American Dream.