{"id":152,"date":"2009-02-20T18:09:37","date_gmt":"2009-02-20T23:09:37","guid":{"rendered":"http:\/\/www.richestmanintown.com\/blog\/?p=152"},"modified":"2009-02-20T18:09:37","modified_gmt":"2009-02-20T23:09:37","slug":"how-low-will-it-go","status":"publish","type":"post","link":"http:\/\/www.richestmanintown.com\/blog\/2009\/02\/20\/how-low-will-it-go\/","title":{"rendered":"How Low Will It Go?"},"content":{"rendered":"<p>As I write this, the <strong>Dow<\/strong> is hovering around 7,300. The stock market hasn\u2019t seen a number this low since October 2002. Those 201(k)\u2019s we joked about are fast becoming 101(k)\u2019s. <strong>Citibank<\/strong>\u2014once arguably the world\u2019s most powerful bank\u2014is trading in the Two-Buck Chuck range. What gives? When will this nightmare be over? If the real estate market is any indication\u2014and it is\u2014not any time soon. The <em>Wall Street Journal<\/em> has a telling story today called <a title=\"The Hamptons Half-Price Sale\" href=\"http:\/\/online.wsj.com\/article\/SB123509132607428443.html\" target=\"_blank\">\u201cThe Hamptons Half-Price Sale.<\/a>\u201d It\u2019s a good time to be flush with cash, because bargains are plentiful. Even so, the rich, like everyone else, are staying on the sidelines, and if that continues, so will the recession. Until <strong>President Obama<\/strong> stimulates the wealthy to start spending again, this economy will never get satisfactorily stimulated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Citibank becomes the Two-Buck Chuck of the Dow and those 201(k)s we joked about are quickly turning into 101(k)s, it&#8217;s a good time to be flush with cash, because bargains are plentiful. Even so, the rich, like everyone else, are staying on the sidelines, and if that continues, so will the recession. Until President Obama stimulates the wealthy to start spending again, this economy will never get satisfactorily stimulated.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,29],"tags":[35,37,36,38,39],"_links":{"self":[{"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/posts\/152"}],"collection":[{"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/comments?post=152"}],"version-history":[{"count":7,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/posts\/152\/revisions"}],"predecessor-version":[{"id":159,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/posts\/152\/revisions\/159"}],"wp:attachment":[{"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/media?parent=152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/categories?post=152"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.richestmanintown.com\/blog\/wp-json\/wp\/v2\/tags?post=152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}