Well, it now seems everyone is expecting that the Bear is about to do to the markets what the monster in Cloverfield does to New York City. The Dow's 400 point drop Tuesday at the opening bell is an indicator that it won't be pretty. While Fed Chairman's Ben Bernanke's program of hack and slash may satisfy the markets, all of which except for London tanked anyway, he's still likely to to catch hell. Meanwhile, India's market is being considered "safer", Europe will be forced to respond, and China plunged.Rest assured though that it's your helpless consumer who is getting killed in this unfolding economic monster movie -- because it's the more volatile fuel and food prices that hits them directly in the pocketbook -- while hapless generals and leaders flail about trying to do something to make it stop.
1 comment:
You forgot to address that Bernecke previously stated, early last week, that we are not entering a recession. Then he changed his wording to we may be on the verge of a recession, every body and their mother was telling him for months the direction we were headed in. Why not try and catch it before it gets bad and we cannot get out? Bush, yesterday, said that we can not rush to find a fix we need to take our time and analyze. What the heck have they been doing all this time, besides fighting a losing war? On top of it all, the fixes that were talked about yesterday don't even begin to touch the surface of all issues. Oil prices are ridiculously high and most states add a gas tax, CT has a a gas tax of roughly 10%. People are going to need to buy a milking cow to just have the ability to provide their family with milk. The price of milk ranges from $4.59 at the expensive store to $2.59 at the reasonable store. With many prices in between.
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