I’m picturing Jimmy the Greek rising from the dead. Jimmy sees Usain Bolt run a 9-flat 100 meters on Hades Cable and he arises from his sarcophagus. Bloomberg News gives him some column inches because he’s click-bait. “I Told You They Had Big Thighs” he thunders. Can’t blame the guy for trying.
Dow 36,000 Is Attainable Again
By James K. Glassman | Bloomberg.com
The Dow Jones Industrial Average set a record this week, but it’s still far from the mark that economist Kevin Hassett and I forecast in our 1999 book, “Dow 36,000.”
You thought Glassman died with the likes of eToys dot com. But no, he’s alive. And he’s giving us a scenic tour of his professional Waterloo:
We wrote in the introduction that “it is impossible to predict how long it will take” to get to 36,000. Then, in the same paragraph, we rashly made a guess anyway: “between three and five years.”
Today, the far edge of that time frame is clearly in reach.
Five years is within our reach but let’s just see after the first four. The workings of time favor the numeral over the douche-fiat. But is it at all possible to know? Who can say? I wouldn’t hazard a guess — let’s just call it “Noon Tomorrow.” I see the French Emperor is on a tear and it’s anybody’s guess where Belgium could end up. Bill Buckner grabs it and, hey, the World Series is over.