That's It In a Nutshell, But.........
The stock market dropped 679 points today, the 4th largest loss ever. So, what caused the bad news this time? Well, two things. First were the lackluster sales numbers from Black Friday and the rest of the weekend. The second part of the double whammy today was that it became official today - we are in a recession.
Stunning news, eh? In fact, the US has been in a declining economy since December of 2007. It's kind of ridiculous to get this news today, because everyone has known it for some time now that the economy has been stagnant for a while. Last December is about right. This believe it not is good news......
I know, you're thinking I've lost my mind, but before you reserve a padded cell for me, just listen. The good news about the recession news is that it has been going on for a year already. If I had to guess, i'd say we're about halfway through it already, if not more. By next summer, things will start to turn around a bit, and next Christmas will be better than this year - a slow recovery, but still a turnaround will be here soon.
As far as the bad consumer spending, what else were we going to hear - that America spent money they don't have? This was excellent news, in that people were looking for good buys, but pissing all their money away. America's spending vs. saving habits have needed to be changed for decades, myself included. Perhaps this was the first sign that we are making solid financial decisions at long last.
I'm a bit disappointed in the stock market's reaction to today's news. Thse guys are supposed to be people who can see the future, and see the positives even when bad news comes. Right now, they're not seeing it - they're just order taking right now. Like I always say, things are nevr as bad as they might seem, and rarely as good as you think either. You're not on welfare, neither am I. There are still opportunities, even here, and the worst is likely over.
Don't listen to the idiots. Look at the ways things really are, and make up your own mind. Or just listen to me and be calm. Mellow, baby!
.
2 comments:
that market drop today hurt me bad man
Unless you own a dog stock, hold onto it, and it will come back eventually. Patience, brother...
Post a Comment