I don't know Enrique, the market bottomed around 9-1, made a little rally, but in the second week, it looks like on the chart, of Oct, it almost got down to 7400 again. When I read about the big jump in M1(?) I assumed there was a lag in the measurement time or something, and by the end of Oct. the money started returning to the market more agressively. Still, on Nov. 1, it was only 8600.
Then the credit thing sounds right too. And I have seen some truly obscene interest rates being offered. And all the stores are offering "same as cash" deals. Some with no payment for a year, and no interest accrual ever! I think it makes sense that some would use credit and hang onto their cash hoping to recoup their earlier losses.
About the Harper's article. I was being sarcastic, but as far as education, in my predominately black hood, most affluent blacks I know, also send their kids to private school after elementary. The schools suck. It's probably because it's a black area, just like our grocery stores suck, but people want the best for their kids, period. When I moved to Atlanta, I was a rack-jobber. That's who used to take care of record depts. in drug stores, woolworth, Macy's, etc.
I got to be a big hero for sales increases, just because I paid attention to my predominately black accounts. No one had ever bothered. I'm amazed how little that has changed. So i can imagine what shape the schools down here are in.
Until the left grapples with these inconvenient truths, and stops preaching to folks about contributeing their children to the cause of justice, we won't win any minds.
I want my M1.
Hey, glad you're baack.
pms