September 16th, 2008

sick-winslet

Beware The Ides Of September

Forgot To Point Out

... earlier that that $4.19.9 gas is not coming at $140/bbl oil, but under-$100/bbl oil. Not that there's any correlation between gas prices, supplies, or crude oil prices.

Making It Up As They Go

Which could've been the heading for the last section. But let's consider recent economic news.

-- Bear Stearns propped up by the Fed.
-- Sallie Mae/Freddie Mac propped up by the Fed.
-- Lehman Brothers going under -- not propped up by the Fed.
-- Fed figures it's about time the banking industry eats their own problems.

So... Bank of America takes their resources and... snatches up Merill-Lynch? Now that's bullish on America.

And the market drops over 500 points, in the biggest drop since seven years ago.

The Good News

Hey, the Dow Jones Industrial Average doesn't really reflect the economy -- it's an artificial construct. And anyways, Monday's closing prices of 10,917.51, which is down -504.48 for the day, is "only" a loss of -4.42%. I mean, come on, it would take two more days of -500 drops to go under 10,000. Really. Can't you feel the love?

Sometimes being forced to be sarcastic pisses me off.

Dr. Phil
  • Current Mood
    annoyed annoyed