[Marxism] Dow 11,349.28

Louis Proyect lnp3 at panix.com
Fri Jul 25 08:00:41 MDT 2008


http://www.harpers.org/archive/2008/07/hbc-90003316
Dow 11,349.28

By Ken Silverstein

James Glassman and Kevin Hassett published Dow 36,000: The New Strategy 
for Profiting from the Coming Rise in the Stock Market on September 20, 
1999, an event which almost immediately triggered a drop in stock prices 
from which the market has never recovered. After today’s sharp drop to 
11,349, the market stands 526 points above its close roughly nine years 
ago when the book came out.

That’s a gain of about 0.5 percent annually since Glassman and Hassett 
issued their bullish proclamation. Investors would have done better 
putting their money in a savings account (and almost as well leaving it 
under the mattress).

I checked out the Dow 36,000 Amazon web page today. Customers who had 
searched for the book were pointed to a couple of other classics: Dow, 
30,000 by 2008: Why It’s Different This Time, by Robert Zuccaro (2001), 
and Why the Real Estate Boom Will Not Bust–And How You Can Profit from 
It, by David Lereah (2006).

Buy them together and save.




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