Dow Falls Below 9000 [not joking]
Oct 9, 2007 14,164.53
Oct. 9, 2008 8612.08 (4:04pm EST)
Things were starting to get sticky yesterday with Treasury considering
new measures, including taking ownership stakes in banks. So, we, the
tax payers, on top of the $700 bil, will be buying stocks of these
banks, riding on the assumption that these troubled banks will recover
and make a profit for us shareholders.
So what's with the stock market? Investors wanna see the bottom of
the barrel (of a gun lol). Jokes aside, it's all about actually
seeing the bottom before people can even start to think about
rebuilding. Today's drop is precisely that: the willingness of market
participants to see how deep the rabbit hole is.
Oct. 9, 2008 8612.08 (4:04pm EST)
Things were starting to get sticky yesterday with Treasury considering
new measures, including taking ownership stakes in banks. So, we, the
tax payers, on top of the $700 bil, will be buying stocks of these
banks, riding on the assumption that these troubled banks will recover
and make a profit for us shareholders.
So what's with the stock market? Investors wanna see the bottom of
the barrel (of a gun lol). Jokes aside, it's all about actually
seeing the bottom before people can even start to think about
rebuilding. Today's drop is precisely that: the willingness of market
participants to see how deep the rabbit hole is.