Didn’t have time to do this during the week. I wanted to look at what actually happened during the week of 2/9. Let’s imagine that you’d bet money that the DJI would be lower at the end of the week of the 9th than at the start, ie. you’d shorted the Dow based on Reinhardt’s prediction.
That graph (thieved from Yahoo!) pretty much tells the story. The average was down just shy of 10%, two weeks after the prediction. I see only two days when it moved up, and those are very slight.
This is no way is meant as a validation of his future predictions, but does at least go to show that it’s a hard environment in which to be too gloomy.
On the subject of which, there is speculation that the amount of bad debt in the european banking system is as much as €18 Trillion. That’s an astonishing large number. Just astonishing. The entire GDP of the european union is €12 Trillion… and i think you can expect that to be falling rather rapidly in the immediate future.
If i was a european banker i’d be getting pretty nervous about my personal safety right about now…
Back when CBS bought last.fm i immediately ditched them off my machine and attempted to delete my account (doubt i was successful, but i tried). At the time i opined that if there was one thing you could trust media companies to do, it was betray any trust you put in them. And look what they gone done:
I heard from an irate friend who works at CBS that last.fm recently provided the RIAA with a giant dump of user data to track down people who are scrobbling unreleased tracks. As word spread numerous employees at last.fm were up in arms because the data collected (a) can be used to identify individuals and (b) will likely be shared with 3rd parties that have relationships with the RIAA.
What a surprise. Even if it doesn’t turn out to be true, it’ll be interesting to see how that plays with the music listening public. It seems quite astonishing to me that the music industry continues to wage war on it own customers.
Mind you, if you are dull enough to be listening to anything that U2 dribbles (drools?) out, perhaps some time in court would help clear your head?