Wall Street’s "Way-Back" Time Machine: 1996 Revisted

Attention- Wall Street has possession of a bonafide time machine!

The year is 1996….

Top Hits:

1. Macarena (Bayside Boys Mix), Los Del Rio
2. One Sweet Day, Mariah Carey and Boyz II Men
3. Because You Loved Me, Celine Dion
4. Nobody Knows, Tony Rich Project
5. Always Be My Baby, Mariah Carey
6. Give Me One Reason, Tracy Chapman
7. Tha Crossroads, Bone Thugs-N-Harmony
8. I Love You Always Forever, Donna Lewis
9. You’re Makin’ Me High / Let It Flow, Toni Braxton
10. Twisted, Keith Sweat
11. C’mon N’ Ride It (The Train), Quad City Dj’s
12. Missing, Everything But The Girl

Top Ten News Headlines:

Israel elects Netanyahu
Crash of TWA Flight 800
Russia elects Yeltsin
U.S. elects Clinton
Hutu-Tutsi conflict in central Africa
Peace, elections in Bosnia
U.S. base bombed in Saudi Arabia
Centennial Olympic Games
Advances against AIDS
Unabomb suspect Ted Kaczynski arrested

S&P 500

October: ~ 700 in October

Wall Street has managed to return the S & P once again to October 1996 levels.
One year:

Ten year:

In the movie “Back to the Future”, plutonium or lightning was used to power their time machine:

Wall Street’s power source is a never ending supply of grim news such as this latest tidbit:

AIG records a 62 billion dollar loss for the 4th quarter of 2008- setting a new record of ALL corporate losses EVER reported.

Even better news- AIG reportedly offered out 500 billion in insurance obligations but kept only 10% in reserve as collateral….I guess they thought no one would ever need to collect on their insurance…

Not to worry through, since the US Govt is bailing out AIG yet again with an additional 30 billion dollar life line.

And people wonder why the arrow continues to point down…..

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