Wednesday, March 19, 2008
Worst Look of the Day - Damn you DOW!
The market sucks!
One day after it's miraculous recovery. Just one day after I guardedly suggested that the market was no longer on life support. A mere 24 hours after the Fed fueled market boom that resulted from rate slashing, the market decided to erase a majority of its gains from the prior trading day.
Look, it's safe to say that most of my assets are liquid. And when referring to my liquidity, it would also be safe to say that I'm not as wet as I would like to be. In other words, I don't have a lot of money. But that's beside the point...
Who would've thunk that on a day where the cost of energy fell, with oil sliding 4 bucks, that the market would still suck ass? Isn't our economy hurting? Isn't it reasonabe to suggest that a cheaper tank of gas would enable me to drive farther and spend much more money at retail outlets, and in doing so stimulate the economy? Wasn't today the day when everything was supposed to turn around?
I hate to say it folks. I hate to lose sight of the longterm. But seriously, pack up your bags and run for the hills. Don't spend a penny more than you have to. Sure enough you'll negatively impact my Wal-Mart holdings - but if you guys drive the market down far enough with your fearful trading and conservative spending, there is a slim chance that you'll pave the way to me becoming a major player in the Wal-Mart trading game. And not if, but when the market recovers, I'll be a wealthy man. At least wealthier than my father! At the end of the day, isn't that all part of the American dream?
But I digress. Frickin' eh people! We're headed for a recession. This is more than an economic slow down. The market is in pain. Damn you Subprime! This is your doing!
And oh yeah, war in Iraq - you're not helping either.
Now don't get me wrong, I'm not an economist. Nor do I claim to have the expertise of one. Yet, I am shocked at how pathetically our most talented economic thinkers have performed during these days of great distress (the same people I branded yesterday as geniuses that can be thanked for saving the economy are idiots today - worthless, overpaid and falsely optimistic idiots). The fallout from this stumbling and bumbling market will be more than just the rising costs of pizza, eggs, gas or gallons of milk. Those consequences would be far too simple, which is difficult to accept given my intense love for pizza. Instead, we will see a continued loss of employment, a continued loss of homes and a continued loss of hope. Although we are far from the agony of the Depression, today's American economy is downright depressing!