US Economy Still Imitating Roller Coaster
It’s no surprise to anyone I think that the economy is going from highs to lows and back again almost as if it had overdosed on diet pills or something.
First we have the Dow dropping three and four hundred or more points a day for two or three days running, now it’s climbing almost as fast just because President Bush asked Congress for 700 billion dollars to bail things out.
The worst thing about it is that the whole thing is speculation. The market is going up just because he ASKED for the money (as if Congress could get away with saying no.). That means that on word of his doing that, people are starting to buy. It seems to me that if people were a bit more conservative they’d take a ‘wait and see’ attitude and not rush out to buy until they actually see some stability and then only invest in the things that are stable over a long term.
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