Dow Jones, today's causality

     Well today did not go to well for the American stock market, the Dow ended up -634.76 points to cap the day or -5.5% down.

     Asian markets took a beating as well last night and so did the markets in Israel, Global economy at it's best. You can say that the downgrading by S&P last Friday really rocked the world's financial markets and in a way that might be a good thing, yes I know people lost money and that sux but if you invest in what amounts to legalized gambling then there will always be those risks. The reason I see it as a good thing is that we have been  living beyond our means for some time and the reality of it all has finally come home to bite us in out collective ass.

     We never seem to learn a good lesson until it is too late, we are going learn a lesson off of this one way or another, I hope. I am not going to hold my breath though, common sense seems to have left the building a long time ago especially when it is something government is involved in.

     To me we are just one step closer to being in a world of hurt, I would love to know when or how far it will go but a psychic I am not so I will just go with the good old gut and ear-ball it. I will say though that we are in for some changes in the future and they are not the good hoe and changes that were muttered years ago by a certain person, time will tell. 

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Matt said...

I agree. I'm glad I'm not the only one who saw this as good medicine.

great post

Terri said...

Some perspective on the federal debt:
"If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." —Dave Ramsey

Scott R said...

Matt, appreciate the comment. I think we have more "Good Medicine" in the future but it may not be viewed as good by many.

Scott R said...

Terri, oh so true but even putting it in simple terms like that far too many people would not care one bit.

chinasyndrome said...

Scott,give me a break I was only off 334 points ha ha. Sad but I was closer than some Experts. Interesting times we live in Bro!


Scott R said...

Hi China, truth be told you were actually closer than me I thought it would go down pretty quick but recover to a better level, maybe tomorrow.... Thanks for stopping in

Anonymous said...

Pretty insightful. Thanks!

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