The Dow Drops Again....
Get it? Pho Ling Dao - Falling Dow? Yeah, I know.... Somewhere, I hear Tom Petty's 'Free Falling' over and over in the background as I'm writing this. The Dow Jones industrial Average has dropped below 7000 for the first time in 11 years - and this is good news?
In many ways no. The economy still sucks right now, companies are laying off more still, and no one knows for sure what lays ahead in the future. But this really isn't anything different than what we've been talking about for a while now.
So, the big question is 'How Low Will It Go?" This is only a guess, but I'll say that the Dow will go down to about 5700 in the next month or so, then slowly, surely.... There is one bit of good news - people are actually saving once again. Where just a year, we saved an average of 1%, we are now up to 5% - a whopping 400% increase! And once we save , eventually, we will get to spend again...
Right now though, Wall Street looks pretty crappy.. It reminds me of something like this:
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1 comment:
Obama is going to wreck our way of life
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