Recession or Not?
Written on January 18, 2008 – 5:15 pm | by jaygaulardcom |
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I have been hearing a LOT of news lately about a recession. I think they (the media) have been talking about this for some time, but yesterday, they really hit hard.
If you didn’t hear about it, the Dow dropped around 300 points yesterday. Actually, the market has been sucking all week. Since yesterday, this is all the news in the news. It is beginning to make me wonder if it is actually the media that is making things worse.
I kind of know the way things work over at Wall Street. After all, I did answer one out of the six questions on my finance final in grad school and managed to pull off a B- in the class. I am not saying I even answered it correctly. That’s not bad. Anyway, the way things are supposed to work is by using plenty of data to make buying and selling decisions. I am sure this actually is the way things work most of the time, but day to day trading is heavily influenced by the media. I mean, perhaps if they didn’t talk about the flames at the bottom of the endless pit of doom so much, there wouldn’t be so many drops in the market. It’s almost like the trading floor is blasting CNN over some loudspeakers. The reason I am saying this is because I happen to listen to CNN all day as I work. I must’ve heard the same story about the impending mess of the economy about fifteen times today. Then of course, our President, George W. Bush, had to come on the gool ol’ television to promote a economic stimulation plan. I ain’t sure what another whoppingly huge $300 rebate check is going to do.
I must confess, when I was listing to our President, George W. Bush, I did agree whole-heartedly that we should cut taxes. I would like a flat tax, just like Mike Huckabee is proposing. I don’t care if these brilliant politicians can’t figure out how it is going to work…they are the ones who got us in the tax mess in the first place. I believe that if we weren’t shelling out 33% of our earnings to pay for wars and $4000 toilet seats, perhaps there would be some sort of restraint. I apologize, I got off track there.
All I am trying to say is that I think television, radio, the internet and everything else out there gets everyone so damn paranoid that they hide like a pearl in a clam’s mouth. Well, that’s not good.
Ok, bye.
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Tags: economy, money, Politics, recession
2 Responses to “Recession or Not?”
By Anthony on Jan 18, 2008 | Reply
Jay
This here is your pal. Let me give you a little heads up,tonight at 7 put on The speed Channell and watch as many many people in a tent 8 acres large spend unbeliveable amounts of discretionary money on classic cars, the place is packed to the gills too. I guess the economy can’t be too bad. The word is paranoia.
By jaygaulardcom on Jan 18, 2008 | Reply
I already missed that show. YOU MY BOYYYYYYYY!!!! You got a good head on your shoulders Tony Spondoni.