Monday, October 27, 2008

a twenty-six year low...

The credit crunch/financial crisis/impending global economic meltdown/whatever you call it is getting scarier.

Asian markets are diving. In Japan, the Nikkei dropped to a 26-year low. In other words, if you had invested a million yen to cover the Nikkei stock market in Japan in October 1982 and had let it ride for the past quarter century plus, you would now have one million yen. Zero progress. Actually, negative returns since inflation would eat into your million yen.

And that's depressing. Emotionally I mean. I hope not in the macroeconomic sense...



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