what is going on with all this market craziness?? The market is down another 200 points today and this is really driving me up the wall. I really think sometimes that for all that people say they are a 'savvy investor' they are lying to themselves. Honestly why are people panicking? They are adding fuel to the fire. Yes, so the government bailed out Fannie, Ginnie and AIG (thank GAWD). Yes Merrill was bought by BOFA, yes Lehman was sectioned off by Barclays. I get it. The big dogs are in the hole. BUT during tough times like this, this process is called 'weeding'. The market truly is weeding out the weakest players in our economy.
I know these companies are huge and have been in business for decades. But really? The mighty have to fall to make wave for true honest businesses. People are watching the news too much. I had a client call the other day and use the words 'The Depression', I was like 'Oh no he didn't'. Look at the basic numbers. In 1929, on Black Monday and Tuesday the market fell over 23%! 23%! And we are panicking because the market fell 4%? Come on. Relax.
Relax and know that Barack Obama will rule and all will be well in the land of America! ;)
1 comment:
Amen Sista!
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