Riots in Greece. Greece is 1/5th the size of California. They didn't collect taxes, couldn't pay bills and are in a depression/bailout situation. Greece felt the bailout amount was not enough money, so the entire country went on strike. In the entire world it's really not very significant. YET it triggers this. More bailouts needed for the E.U. *P.I.G.S.* (click click) E.U. PIGS and the stock market dumping. Where are all you people who argued that the market has no need for correction?
Proctor and Gamble fell flat on their face. 50% in 5 minutes is crazy for a huge stock to fall. It's consumer products. NOT a volatile stock. It bounced back to 30% down. This was obviously a glitch, but the response shows sentiment more than anything.
The bottom of the DOW today was at the level of September 2008.This shows how fast people are ready to jump ship and panic. I am happy to practice the fine art that I call "Cat Trading". Pouncing fast, fast, fast then OUT (kinda how I play poker as well)! A dip of this proportion has only happened 3 times in history.
What about the housing market? What about economic fundamentals? Employment numbers look great when you don't count the people that fell off the roster of unemployment benefits..
Don't EVEN blame this on Obama. This was in the works for years and years.The banks are going to be hit hard again.
Are we safe from inflation? Are we safe from a pending financial meltdown? How do you feel now? Are you even aware of what is going on outside of your house? This will effect and affect you.
These are things I'm thinking about today. I will address them in a new post soon.
CAN AMERICA AFFORD THIS?
2 comments:
Well, you certainly post a lot, but when you do, it's interesting.
No, people don't want to know what's going on. You can't blame Obama or any government for pissing away all your money on junk and living beyond your means. What happened to living modestly, but comfortably? Why is going to the mall a way of life? Why not art galleries, libraries, a local coffee shop, a photography class? Do people have any passions other than shopping?
We wouldn't be in this mess without the compliance of the people.
As for Greece - watch the domino effect - that's a horse of a different color. They get "helped" by the IMF & WTO and can't make the payments without starving. It's actually a good thing that people have taken to the streets - it's about time.
Sun Tzu said, if it is advantageous you may move the army (money). If it is not advantageous, do not move the army (money).
Too much reliance on the shopper, our way of life has become too consumeristic and we've become "fat." It is time to eat rice and bits of rat meat.
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