A TIA for the DJIA: Daniel Gross argues that the Dow Jones Industrial Average avoided the worst of the tech meltdown because it is so antiquated. Right off the bat, Pacimini has figured out what may be the real consequence of the Dow's obsolescence here:
Although the Dow may be ignored by professionals, it is more closely followed than the S&P or Nasdaq by the broader public … If the Dow had been as sensitive to the tech bust as the Nasdaq, [if] it had fallen 74 percent from its high of 12,000 (or so) and currently be at 3,100, I can't help but think that such a precipitous decline in the Dow would have had a depressing effect on consumer confidence and resulted in a much sharper decline in the total economy. Right now, consumer spending is the thin thread that keeps the economy hanging between stagnation and recession. If the Dow were more of an honest barometer, maybe things would be a lot worse.
This makes so much obvious sense, I wonder what the responses will be. Check back here. … 10:20 p.m.
Monday, Jan. 27, 2002
Instead of the side-splitting philosophy of reptilian swamp-dwellers, the pathos of children who actually aspire to positions in middle management, or even the momentary chuckle inspired by a new catch-phrase, most breaks were filled with blatant, highly offensive sexism and/or bodily function jokes.
Zarkhov tries to get our priorities straight here:
If only this much excitement could be generated over the upcoming "State of the Union" address, what kind of ads would we see between major "plays" of Mister President's speech? We'd see lots of monkeys. SUVs. Recruiting pitches for the armed forces (well, maybe not National Guard). Investment companies handing out dividend checks. Maybe sexy sightgags of some kids left behind.
Rudie_can't_fail's "long, annoying" post is also extremely funny. Find it here.