{"id":638,"date":"2009-03-05T11:10:12","date_gmt":"2009-03-05T11:10:12","guid":{"rendered":"http:\/\/astraea.net\/blog\/?p=638"},"modified":"2009-03-05T11:20:19","modified_gmt":"2009-03-05T11:20:19","slug":"12-year-lows-are-rare","status":"publish","type":"post","link":"https:\/\/www.astraea.net\/blog\/12-year-lows-are-rare\/","title":{"rendered":"12 year lows are rare"},"content":{"rendered":"<p>I don&#8217;t think that the economic contraction has ended yet, but there are signs of a bottoming out of some markets.  The US market has been cleaning itself out for six months, though moral hazard remains as do some big skeletons (like the Madoff, Stanford &#8230;). The Fed Chairman is concerned about stagflation too. But the market is low and maybe only has another 10% to fall &#8211; DJIA bottoming around 6,000.<\/p>\n<p>See this chart from JPMorgan.<span style=\"color: #ffffff;\"> <\/span>Thomas Lee, their US Equity Strategist writes: <em>\u201cBelieve or not, retracing 12-year lows for the Dow is an incredibly rare event. Besides the retest of 1997 lows seen on Monday, this has only happened two other times, on April 8, 1932, and December 6, 1974.\u201d<\/em><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone\" title=\"12 year lows are rare\" src=\"https:\/\/i0.wp.com\/www.astraea.net\/holonics\/magazine\/images\/2009\/12-year-lows-are-rare.png?resize=807%2C338\" alt=\"\" width=\"807\" height=\"338\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I don&#8217;t think that the economic contraction has ended yet, but there are signs of a bottoming out of some markets. The US market has been cleaning itself out for six months, though moral hazard remains as do some big skeletons (like the Madoff, Stanford &#8230;). The Fed Chairman is concerned about stagflation too. But &hellip;<br \/><a href=\"https:\/\/www.astraea.net\/blog\/12-year-lows-are-rare\/\" class=\"more-link pen_button pen_element_default pen_icon_arrow_double\">Continue reading <span class=\"screen-reader-text\">12 year lows are rare<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24,17],"tags":[],"class_list":["post-638","post","type-post","status-publish","format-standard","hentry","category-markets","category-us"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hwcd-ai","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/comments?post=638"}],"version-history":[{"count":3,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/638\/revisions"}],"predecessor-version":[{"id":643,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/638\/revisions\/643"}],"wp:attachment":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/media?parent=638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/categories?post=638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/tags?post=638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}