U.S. stocks fell and the Standard & Poor’s 500 Index retreated from a five-week high on concern the Federal Reserve has few tools left to combat the recession after cutting its benchmark interest rate to as low as zero.
Funny, yesterday the same information was received with a 4%+ increase in stock values. These darned speculators!
5 comments:
Reading the Financial Press is like listening to ancient sages trying to divine the future from ox entrails or isolated island shamans discussing the cause of an eclipse.
I read it like this. Market up on news we took a shot. Market down on news we're out of bullets.
I don't even think this whole market thing really exists beyond being some sort of elaborate scam to move money from the have-nots to the haves. I'm joking, of course, kind of but not really.
the market is based on a undefinable commodity....confidence. witness the market schwings following obama's press conferences or vague threats of war... it's a crap shoot or is it shot and in the crapper
I think we all just have to keep working, no matter what. As long as there's work to be had, by God, let's show up and do it. Never mind the stock market.
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