Dow Finishes Lowest in 5 Years
After falling 679 points today, the Dow has finished below 9000. This has been a continuing trend for the past few weeks, and a surprising plunge since last Friday's bailout being passed through Congress and signed into law. That makes to be a loss of $872 billion for Thursday and a 39.4% loss since October 9, 2007.
I never believed in the bailout to begin with. Not only is a complete waste of money, but I've always felt that it would hurt the economy more than it would do any good. I trusted that the bailout would bring some temporary relief to the strife that we've been experiencing, so this is a shock to see this. However, this just goes to show that the People were right. The overwhelming disapproval of the people towards the bailout has proven to be out of more than just an irrational fear. Obviously, their fears were validated. Perhaps Dianne Feinstein can eat her words and understand that it's not the constituents that are ignorant. It's the politicians.
I, honestly, wish I was wrong on this. I don't like seeing our economy continuing to take a shit. I wish that the bailout would have been a good fix, and not just a band-aid. Unfortunately, the bailout hasn't even acted as a band-aid, either. It's just been nothing more than salt in the wound of our economy. I trust that our economy will get better, but it is going to need the government to listen to the People and back off and let the economy fix itself. Only then will the economy pick itself back up. Until then, I believe we'll see a continual dive in our stock market.
October 21st, 2008 - 07:43
I am seaching for some idea to write in my blog… somehow come to your blog. best of luck. Eugene