Monday, September 29, 2008

How Bad Is It?

Video Find of the Day

The Dow fell about 777.7 today, a Biblical number representing infinity in a decimal fraction. Let's put this event in further perspective.

Stock Market crash 1929

Ouch, an 80% loss over 4 years! But the Dow fell only 7% in one day, today. Let's see -- compounded daily, 4 years, carry the one, drop the two, roll the three -- oh shit.

Wait a minute, the Dow is only one index! Yeah, it isn't that significant! It's only based on 30 selected stocks! Let's look at the Nasdaq Composite, based on nearly 3000 stocks. Oh, sure, that will be better.


OK. Let's look at it the other way. So the economy tanks. So we end up like India, which, in spite of having all our tech jobs, has less than a quarter of our GDP per capita. So our middle classes all end up working at Pizza Hut, like these guys in Jalandhar, Punjab. You think that would be bad?

Jalandhar Pizza Hut Bhangra Dancing

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