DOW Breaks 11000!

Jiminey Cricket, that was fast.

It seems only a couple weeks ago we noted the plummet past 12000.(And yeah, we dipped down below 11000 last Friday, but this journal tracks by end-of-day and only the DOW. We're quirky, but consistently quirky).

Things are looking pretty dire, and the only good news is that the chattering classes are saying that its going to get worse. And I say that's good news, because the various sage talking heads have been wrong about so much so far, that its a good bet that the markets, hearing themselves declared dead, will immediately reverse themselves and usher in a new golden age.

Meanwhile, one of the major candidate's advisers went off the deep end and declared that the current economic woes were "a mental recession". The candidate's campaign quickly distanced themselves from this remark, saying only the candidate really should speak for the candidate. Of course, the candidate has already said he doesn't know much about economics and that he relies upon ... the advisor who said it was all in your head.

Mental recession? It sure doesn't feel like to the people who are not on the bus. Mind you, the recent sale of Bud to a Belgian/Brazilian consortium had definitely helped the candidate's household, as his wife has a lot of Budweiser stock. So they're doing mentally dandy right now.

Maybe it IS all in our minds. Maybe it's, dare I say it, a malaise. Yeah, that's it.

I mean, that phrase worked so well the last time.

More later,

UPDATE:A good history of the context of the infamous "Malaise Speech" can be found here.