Quote of the Day

Stephen-Harper-Cartoon-004

So how is Stephen Harper’s self-declared “Canadian-led plan” to have governments slash deficits rather than spend to stimulate the economy going so far?  Recall that the plan is to have the do-no-wrong private sector take up the slack with the necessary investments.

From CNBC.com, “Dow Repeats Great Depression Pattern“:

The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday.“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.

The Dow retreated 457.33 points, or 4.5 percent last week, to close at 9,686 Friday. Guppy said a Dow fall below 9,800 confirmed the head and shoulders pattern.

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