The old crystal ball | Arkansas Blog

Monday, December 1, 2008

The old crystal ball

Posted By on Mon, Dec 1, 2008 at 2:28 PM

Perhaps you've heard that the official verdict is in -- we're in a recession and have been since December 2007.

That rang a bell with a regular reader of the Democrat-Gazette opinion pages, specifically a Feb. 27, 2007 column by editorial page editor Paul Greenberg on the occasion of being asked by someone or another to provide advice.

It sounds to me like you’re looking for someone more along the lines of the New York Times’ Paul Krugman; he’s been predicting a recession for years now, and he’s bound to get it right some time. After the stock market’s Great Big Hiccup yesterday, he must be jubilant. Me, I think now’s the time to buy. The price is right.

The Dow closed at 12,216 on Feb. 27, 2007. It closed Friday at 8,829.

UPDATE: The Dow closed down almost 700 more points today.

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