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That year, apartheid was repealed, the Soviet Union collapsed, the Dow broke 3000. The next year, the first commercial text message was sent; now there are more transmitted every day than there are people on the planet. In the time it took for toddlers to turn into teenagers, we decoded the human genome and everyone got a cell phone, an iPod, a GPS and a DVR. As the head-spinning viral video "Did You Know" informs us, the top 10 jobs in demand in 2010 did not exist six years ago, so "we're preparing kids for jobs that...
Talk about déjà vu. On July 29, the Shanghai Composite Index fell 5%, setting off panic selling in Hong Kong and dinging even the Dow. But Chinese stocks rebounded 2.7% the next trading day, the steepest rise in two months. Fast forward to Aug. 31. The Shanghai index dropped 6.7% that day, causing panic around Asia and even in distant markets like...
...stock market really went nowhere. Is that what we might be headed for longer term? Yes, exactly. That bull market really peaked in 1965 or 1966 and then it churned back and forth - and inflation ravaged it, even though the nominal prices didn't collapse as much. But the Dow Jones average didn't set a new high until...
...History doesn't repeat itself," Mark Twain is supposed to have said, "but it rhymes." What's happening right now is not a repetition of 1932, when the Dow Jones Industrial Average had dropped 90% from its peak three years earlier and the unemployment rate exceeded 23%. But now most definitely rhymes with then: the crash, the severe economic contraction and crisis, the graceful new Democratic President (and First Lady), the possibility of a serious reshaping of not only our economic and financial systems but the ways that Americans think about their country and themselves...
...down 5% on record-breaking trading volume of $43.3 billion. The sell-off was the largest one-day decline in Chinese stocks in eight months, and set off panic purging in Hong Kong, where the Hang Seng Index lost 2.4%. Even the U.S. got dinged, with the Dow Jones Industrial Average ending the day off by 26 points...