My photo
Parkersburg, WV, United States

Tuesday, February 23, 2010

Market Tumbles

American's are more pessimistic about economic recovery reports CNN business and WSJ market watch today after the DOW drops over 80 points as of this writing there’s still a few minutes left In the trading day so this could change . Reports indicate that the drop was due to the new report out today indicating that consumer confidence sank to 46.0 ther projections were for 55.9. Normaly healthy economy rings in at about 95 points and the experts have again missed the mark expecting only a slight drop. Obviously the experts don’t shop at the same stores that we do. All I have seen is a never ending increase in prices for food clothing and medicines the up down up down of gas prices while a lot lower than last year do not offset all the high prices we are paying for everything else .

The report also notes that consumers remain extremely pessimistic. My question is what exactly we would be excited about. We all know too many people that are unemployed at this time, and in many cases they have no choice but to ride out their unemployment to the bitter end, before they then head out to the fewer and fewer jobs at seven eleven’s, wall-mart, and Mickey D’s.

The report also states that the percentage of consumers, who said that conditions are good, dropped to 6.2% from 8.5%. Who are these people, how they could even find 6.2% of any group who thinks things are good is beyond me. These must be people who were given funds from the TARP.

The government continues to live in a state of denial, the never ending stream of propaganda coming out of the beltway by both party’s continues to be an unending litany of admit nothing deny everything and make counter accusation’s

No comments:

Post a Comment