Who's the SOCIALIST now? http://wonkette.com/402901/stocks-basically-flat-after-massive-govt-takeover-of-everything Stocks Basically Flat After MASSIVE GOVâT TAKEOVER OF EVERYTHING Well, that was a fun week in finance news. So what did the markets get, after the U.S. government decided to end market capitalism and become the Soviet Bank of Soviet America? Stocks ended the week flat, thatâs what. Monday morning, the Dow opened at 11,421. Today, after this unprecedented nationalization of AIG and promises of some âWe Buy Your Crapâ market run by the Fed, the DJIA closed at 11,388. (The S&P 500 was about the same, starting the week at 1,252 and ending at 1,256.) A half-trillion in new U.S. debt just doesnât buy what it used to! [Schaeffers Research]
I have to laugh suddenly everyone is bullish. At the end of the day who the hell is buying this crap, we are in deep shit, it still goes down!
This economic blog entry shows an HSBC Security analyst's comparison of the market closes for the week of 9/12 and 9/19. Despite *all* the volatility this past week, and all the panic and fear in the world markets, from a pure numbers perspective, the major US indices and rates are nearly unchanged from a week ago before the latest iteration of Mister Market's Wild Ride. http://bigpicture.typepad.com/comments/2008/09/what-did-you-mi.html As the blogger notes, and which I agree 100% with, it sure didn't feel like a 'flat' week!!