Posted by NY 986 on October 02, 2009 at 10:48:37 from (166.203.68.4):
In Reply to: OT: Dow Jones posted by jhilyer on October 02, 2009 at 10:16:14:
The Dow was fine over 100 years ago. At that time, the US was becoming the center of industrial activity. Also, most transactions were based on cash and consumer credit was minimal relative to retail sales. Analysts had only a fraction of the data that they have to analyze today. Today's financial markets are too complex as far as looking at them in terms of the Dow. You have industrial and consumer activity all over the globe now. Trading of stocks no longer rests in the tight control of a few investment houses anymore. One benefit of tight credit is that people have less money to speculate on the financial markets which should help to minimize wild swings. Access to information now is so easy it is more difficult to make large scale moves without the public readily joining in. In the old days, you could sit on information and manipulate it to benefit a select few investors. Today, everyone could look at a projection for a cold winter and thousands would understand the implication to get in on heating related investments rather quick. Does not allow for the market to be cornered so readily. What the competitive advantage in the market for the future will be is hard to say. I think currency will continue to decline in importance as I think fewer people across the globe will be able to possess it. I think governments worldwide will ultimately determine the fates of their citizens as they force more goods and services through them as opposed to a free market. I am thinking for the time being that owning land will be very attractive for a while until civil unrest leads the general population to seize it (think French or Russian Revolutions). I am not endorsing this but I think we are headed for another Dark Age.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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