It's 1968 All Over Again!

Tuesday April 21, 2009

dennis.elam@att.net

We might as well as some fun on this blog as we examine the markets. 

One of our core beliefs is that social mood affects influences and drives the markets. 

And as they say history repeats. The 1966-1982 may well be THE best parallel in our lifetimes for what we are experiencing now. Janis died of a heroin overdose and the Beatles split up both in the year 1970, brace yourself for big change. 

Mercedes Benz lyrics
Oh Lord, won’t you buy me a Mercedes Benz ?
My friends all drive Porsches, I must make amends.
Worked hard all my lifetime, no help from my friends,
So Lord, won’t you buy me a Mercedes Benz ? 

Oh Lord, won’t you buy me a color TV ?
Dialing For Dollars is trying to find me.
I wait for delivery each day until three,
So oh Lord, won’t you buy me a color TV ? 

Oh Lord, won’t you buy me a night on the town ?
I’m counting on you, Lord, please don’t let me down.
Prove that you love me and buy the next round,
Oh Lord, won’t you buy me a night on the town ? 

Janis Joplin, circa 1970

We hyperlinked to the wiki article on Janis so younger readers,  can acquaint themselves with our own Port Arthur, Texas native. About that time students at universities were having sit ins, often attempting to shall we say detain university administrators. What did they want, well, something for nothing. 

Fast forward to France today.  Workers are taking French business execs hostage, their only regret is not keeping them longer. What would that accomplish, nothing. It rather reflects their extreme frustration that the long unreality of a  federally funded subsidized sub 40 hour 'work week (Janis' night on the town in the last line) ' is over. They can hold the execs as long as they want but that will not bring it back. Janis plea for Dialing for Dollars ( a popular tv game show at the time) has its cousin in today's lotteries, state sponsored gambling at the nearest convenience store. Indeed, government sponsored tv ads with catchy titles like the Texas Two Step encourage such games of chance. 

By the way Mercedes is offering 1.9% financing on pre owned factory certified MBs at this time.....