Daily Investment Interpretations

August 18, 2010

2010-8-18:  This has been a ho-hum day in the trading pits. The NASDAQ Composite ended up 6.26 points (0.28%) to finish at 2,215.70. The Dow eased up 9.69 points (0.09%) to close  at 10,415.54, and the S&P 500 was nudged 1.62 points (0.15%) to end at 1,094.16. Oil closed at $75.30 a barrel, while Gold rose $6 to $1,233. The VIX added 0.26 to 24.59.
    Marketwatch columnist Rex Nutting has created quite a stir by writing Is there anyone the right doesn't hate? Otherwise, there's almost nothing to report.
    Stock market futures are up a little tonight.  
    The picture below was taken in 1930, exactly 80 years ago. The not-too-happy camper in the foreground is me. At the time,
      
Dad and Mother were living in a "double house" across the street from the house below. The two houses in the background are next-door to the house below (with a vacant lot in between), where we moved in 1931 when I was two. Virtually all new building in the United States ceased in 1929, and remained frozen for 16 years, from 1929 to 1945. The houses in the background are  "double houses"... two independent houses for two independent families, each with its own front and back door... like the "double house" in front of which this picture was taken.
    The caption that goes with this was, "You're telling me that Santa Claus gets down all the chimneys in the world in one night? OK. How about the Easter Bunny?"  
    These suburbs were made practical by the advent of automotive transportation, and would have housed the first generation of young couples migrating from the farms into the cities.