Markets: more than one analyst looking at longer term charts makes the comment that this period reminds them of the horrible pre-Reagan, pre-Volker quicksand market where the Dow traded at nearly 1,000 for fifteen YEARS. In fact we have been trading in a tight 12,000 range adjusted for inflation since 1999. Shocks to markets like the Watergate 70s or Great Depression don't just vanish. This current credit crises is as serious as any since 1929 and nobody should just "hope for the best." The Democratic victory in November almost assures either a stagnant market or one that drops 3,000 points and then trades in a range for God only knows how long. No one knows if the Democratic victory is seeping into the market right now, but it will. It will. A terrific chart picture of bull and stagnant markets going all the way back to 1900 is posted at the click and you cannot escape the fact that we are more than due for a decade of stagnant markets. CLICK

However, But, and all that stuff, you will note that the rebound from 1929 did result in a retracement to within 20% of the '29 highs , a retracement that held for nearly twenty years, so that long time period while questionable, is accurate. Those '29 highs weren't penetrated til 1954. Market was still stagnant when looked at over a long time period and considering the money lost in '29, which in terms of percentage was nearly an 80% market loss, simply could not bounce back. Even victory in WWII didn't push it, mainly because everybody "learned their lesson" and kept capital in banks and mattresses. Capital was all but wiped off the face of the earth til 1953 when the first generation not actually conscious of the Great Depression but mostly aware of victory in WWII came of age.

Via Big Picture (old)

Late Add: world wide rice shortage threatens stability in SE Asia. Rice is not only a food for people in the area but the number one feed for animals such as hogs. Livestock in Asia are not fed soymeal, corn, or wheat. Several countries have banned exports and prices are at an all time high. First report is here.