Friday, October 19, 2007

Hmmm...people are starting to report: "Living Paycheck to Paycheck Gets Harder"


I'm a bit perplexed about what exactly is going on because as I see it, the stock market has been going up over the last 9 months or so (until the last week or so that is), yet I feel the economy slowing down.

Slowing down in terms of prices rising, dollar devaluating and people worried about their jobs. (people I know)

Then I read this article on how pay checks are not going as far as they used to, and I say....Hmmm, this is how I thought things were going.

So how can the Investment Community feel so comfortable with business to the point where they drive the cost of stocks up?

Well, it wasn't all that long ago when I remember this .COM bust we had.....and as I recall, I remember wondering how these stocks could be valued the way they were when the underlying companies seemed to have ZERO chance of making a profit.

I was told "Oh, this is a new economy"....

Well, what did we learn.....it really wasn't any different, but the people boosting the stocks were probably smoking something and could not see the forest from the trees.

Is this what we have now? Was todays 360 point market drop just the start of a long series of "corrections"....as we said back in 2001?

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1 Comments:

Anonymous Minimum Wage said...

I was walking downtown this evening to catch a bus home. There's a brokerage near the bus stop. From a block away I could see a solid red ticker - 10, even 20 down stocks in a row - scrolling across the screen. Uh-oh, I thought. All the ticker told me was that the market was solidly down, but it didn't indicate the magnitude of the decline.

3:36 AM EDT  

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