"The definition of insanity is doing the same thing over and over and expecting different results."A quote from Benjamin Franklin.
For the past few years we have had ups and downs in the stock market. In fact a few years ago, Bush had the rate cut. And again just last year 2007, before the Holidays, didn't Greenspan cut the rate. Yet here we are with Bush having it done again. The Stock market dropped 325 points today than rose 299. I'll bet anything that in the stock market, you will see all those brokers patting each other on their backs. But wait! Yesterday, the points dropped some then came back up just a little. So the week total of dropped points would be even greater. Also Monday it really dropped, around the world with no comeback on Monday. Now if we add all the points dropped of the past three days, subtract the points rise of the past three days, the percentage of drop would be higher than the percentage that rose. And this is only Wednesday. Yes, there was a flood of bargain hunters today in the stock market catching all those cheap deals. But where is this flood of bargain hunters coming from? Has anyone investigated who they are? Could it be CEOs, or the Chair Members of different corporations? Or maybe just some foreign corporations, as well as foreign governments taking advantage of our markets in their weak state? Were the percentages of today's points ending in an upward turn really a defining moment in swinging the economy in a different direction? Or will there be just a short moment of relief followed by more economic woes? We are so dependent on other countries for our goods, and oil. Do we really want to be dependent on them for our economy as well?
Wednesday, January 23, 2008
What is the definition of Insanity?
Posted by Angie Meredith at 2:52 PM
Labels: Economic news