The Limbo originated in the 1950s and while many people associated the dance with Hawaii, its source was the island of Trinidad. The object of the dance was to gyrate under a bamboo stick at ever lower heights in the reverse of a high jump. Some dancers cleared the stick with only inches separating their back from the floor.
"How low can you go?"
The same question has been plaguing by financial analysts through the global stock markets.
Yesterday the Dow Jones limboed into the 6000s. This represents a 50% drop from the heights of 2007 and a closing number unseen since 1997. This morning traders tested the bottom once more and found themselves cracking through thin ice into a bottomless pit.
"How low is the bottom?"
Most smart people are saying 5000 or the DJIA under Reagan.
My 1400 is based on history, since the Crash of 1929 bashed the Dow Jones with a 90% loss of value and I don't see any reason for the plunge to stop, unless ETs arrive to save us from the abyss. So how low is low?
Only the limbo gods know, but I'm betting on less than 1929.
The number not the year.
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