Monday, September 15, 2008

Its the economy stupid

Two days ago I was reading something about how the U.S. was still on top despite being challenged by other major powers in the world because the U.S. economy had only dropped by half of what the rest of the world had.
Most likely this is true, others are so dependent on us (still) that when we drop, they drop more.
I'm guessing today we will get this restated in the stock market. International markets dropped pretty strong today when two of the biggest American financial companies announced yesterday (sat night) that they were done for. One of them is filing for bankruptcy, something that I am sure they will get help with where as the 50-100 million Americans who need help will get none. The other is being bought out by another company (who will probably go to shit in the next year too... but who knows... maybe they are more trust worthy). My family has a lot of stock through this company. I'm sure I will be less wealthy by the end of the day... which is funny cuz I have no idea what I have stock in right now.

Even the former chairman of the fed is saying that McCain's tax/econ policy is stupid. Of course, that guy may be the reason everything is going to shit right now... but if anyone tries to say that conservatives or republicans would be better right now, just punch them in the face for being stupid.

1 comment:

Anonymous said...

Good call, indeed, the stock market dropped 500 points today.