Missed it by that <—————————–
——————————————–>much.
But like any conservative or corporate apologist there is no amount of being wrong that can keep them from their six and seven-figure gigs while asking for people in the five-figures to be fired. Less than two-years ago, Glassman announced he was wrong then and would apparently always be wrong forever into the future.
Slowly and reluctantly, after three decades writing about finance, I have come to the conclusion that because the world has changed, investment strategy must change with it. The old rulebook, which served us so well for nearly a century, needs revising. The rush of recent bolts from the blue – the attacks of 9/11, the BP oil blowout, the “flash crash” that sent the Dow tumbling 1,000 points in minutes and the unprecedented collapse of U.S. home values – is no fluke.
And now two years later, FLUKE YOU!
Today, the far edge of that time frame is clearly in reach. From its low of 6,547 on March 9, 2009, the Dow has risen 117 percent. Another 117 percent in four years would put it at 31,022, just 16 percentage points shy of the magic number. … How fast can the U.S. grow? Four percent is attainable, but I’d settle for 3 percent. Get there quickly, and we’ll get to Dow 36,000 quickly, too.
What kind of job can a guy get when he’s always wrong anyhow?
James K. Glassman is executive director of the George W. Bush Institute.
Naturally.



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If it were any different it would not be the same.
The DJA is the rigged Capitalist Casino manifest. The plaything of the Plutocrats to pump and dump.
The savvy thereof make billions at the expense of the many fools and their money. Sadly, that includes many a pension fund. Mine included.
The socially conscious must focus the attention on the general life on this Earth. And whatever remedy might be for the god forsaken system we have about us.
Sounds reliable. You just have to know how to read him.
Quantitative Ease On Down The Road has been a smashing success. The Dow has made good its losses and reached the Emerald City. All is well.
Good morning all,
Still voodoo economics to me. Because of “non-exsistant inflation this record is 8% lower when adjusted for inflation.
Heck of a job James.
It took him three decades to realize he was wrong? The dude evolves more slowly than Obama.
http://youtu.be/HaIQQ6uVOwc
Good morning, pups. Today we have Brooks, Cohen and Krugman. Oh, gawd, he’s SO tiresome… This time Bobo is fizzing about kosher food… In “The Orthodox Surge” he breathlessly tells us that a thriving Jewish counterculture prompts reflections on collective commitments in the modern age. It’s as though he had no idea that there were such things as kosher grocery stores, and he talks about his tour guide to Brooklyn… The boy needs to get out more, or at least take his head out of his butt and look around once in a while. (Dairy-free cheese puffs? Really???) Mr. Cohen, in “Evil Banker Syndrome,” says the essential difference between the U.S. and Europe endures. It is over risk and reward. In “The Market Speaks” Prof. Krugman says yes, the Dow Jones industrial average has been setting new records this week, but the message from the markets is actually not a happy one.
Here they are, and
here’s Krugman’s blog.
The coffee, tea and hot chocolate are ready, and I’ve got a variety of bagels with cream cheese today. Yesterday it was only the hope of death that was keeping me alive, but I’m feeling very much restored today. (I don’t know what I had, but it involved stomach pains and chills. Not fun.) Thankfully the kittens set up a relay system to keep me cuddled and purred at. They make remarkable nurses, even if they do sometimes decide to forget their nursing duties and tussle on the bed. Have a great day.
The George W. Bush institute…My mind boggles at just those words.
Boxturtle (And it’s NOT an asylum or a prison!)
Glad you’re better. Anybody in my house gets sick, they’re immediately surrounded by at least two cats and three dogs.
Boxturtle (this can be inconvenient, the dogs collectively weigh almost 300lbs)
The short buses go to the George W. Bush Institute every weekday morning.
See? No boggling.
Are they making pickups or deliveries? :-)
Boxturtle (I’d stay clear of the place, I HATE the smell of brimstone)
Thanks, attaturk, that 36,000 is the other end of the 47%, all about the ideology finally reversing itself and coming true.
I just find it incredible that all those on the Right were so absolutely certain Obama’s re-election would utterly destroy the economy and put us into a complete tailspin that would start before the inauguration.
Today, the market is at historic high levels, the sequester is in place, and we added just over 150,000 jobs in the last month.
I don’t know that the market will go to 36,000 – if it does, the market will be so incredibly over-valued as to be worthless. However, we certainly haven’t seen the economic Armageddon that was so breathlessly warned about for almost a year leading up to November 2012.
The market has already said it is ignoring the US government, which is probably what most of us should do. Ignoring the stupidity reduces one’s stress levels enormously.
Thanks, Marion, kosher food is about dietary laws that don’t directly relate to present day conditions, Bobo is once again choosing ideology over good sense. Typical.
The right was not certain of the predicted disasters when Obama was re-elected, not at all, that was about frightening the public so it would vote against it’s own interests. That is always the case when right wing commentators talk, and they’re lying.
Quibble: Sometimes, they believe what they’re saying. They’re WRONG, but they believe it.
Boxturtle (Other times, I don’t understand why their pants don’t ignite)
Sorry, no way any reality relates to predicting that trickle down will eventually work, in the face of the disaster it created. The same with election figures they skewed to show Obama would be beaten by Rmoney. The same with CBO figures that are reached by insisting that CBO work with wrong info. They’re all about lies to get the left to do what it ought not to.
Can someone explain to my why the Dow Jones hitting 36,000 is desirable? Or even worth mentioning?
Meanwhile, I’m looking forward to receiving my next batch of chocolate for review. (Yes, I review chocolate, among other things.)
Answer; The investment salescretins depend on showing you they can make you money, so they can get it out of any safe place you may have found to put it.
“I just find it incredible that all those on the Right were so absolutely certain Obama’s re-election would utterly destroy the economy and put us into a complete tailspin that would start before the inauguration.”
That train has long since left the station. We’ve been in a tailspin for a long time with Obama perpetuating it. Our economy is on life support with the Fed doing QE Infinity and keeping interest rates at next to zero.
“Today, the market is at historic high levels, the sequester is in place, and we added just over 150,000 jobs in the last month.”
What a Wall Street-centric view – the stock market isn’t Main Street, adding 150K jobs is actually a bad thing – that just keeps us flatlined – where there are less people working now than when Obama took office which this won’t change if we’re only getting 150K jobs per month. However, what has been going on is increasing wealth inequality where whatever jobs have returned are paying less than the jobs people had previously as Obama continues to gut the middle class.
“However, we certainly haven’t seen the economic Armageddon that was so breathlessly warned about for almost a year leading up to November 2012.”
We are in it already. Everytime the Fed does QE – which they do this every month – they’re giving everyone a pay cut and lowering the minimum wage. If the economy was healthy, the Fed wouldn’t be in a permanent loop of debasing the currency.
“The market has already said it is ignoring the US government”
That is categorically not happening. The market hangs on every word and everything the Fed does, like if the Fed announced they’re ending QE Infinity, raising interest rates and unwinding their $3 trillion balance sheet, the market would tank. Any number of things the government does the market pays attention. However, what is good for “the market” doesn’t it mean it’s good for the general public.
“Can someone explain to my why the Dow Jones hitting 36,000 is desirable? Or even worth mentioning?”
I think it is worth mentioning only in regards to showing how what goes on in Wall Street isn’t reflective for what’s good for Main Street. Stocks jump when layoffs are announced, but I hardly think those touting the stock market levels would say we should cheer when thousands of people lose their jobs.
He had to write another ‘book’. His kid needs braces and his Mercedes broke down.
si @ #20: wouldn’t the Las Vagas stats be a more accurate gage of conditions in the real world? i hear that they operate on a 5% return on their game that humans get to play.
watching the banksters’ computers play has become pretty boring despite the increasing number of human lives destroyed to generate those dry numbers.