Click on the title to read another alarming article...this one by Morgan Stanley warning of a 'catastrophic event'
The Dow is down -129 today. The S & P off by -11. It's not looking good. Each day the Dow is down a bit....a gradual decline...for today, again. I honestly believe the market is manipulated by speculators anyway. If we were to see the 'real' picture, we'd probably be looking at 6,000, not 12,000.
They can't just keep the printing presses running, can they? It is not my intention to sound an alarm of doom and gloom, but come on folks! We all know that CNN and FOX News convince us it's not all really that bad. Yet, we've got soaring gas prices, soaring food prices, an ongoing war in Iraq.....and now major flooding in the midwest. Corn crops destroyed translate to higher food prices.
Airlines are in trouble. Trucking companies in trouble. FedEx is in trouble. Homeowners are in trouble. No need to worry? I, for one, am definitely concerned. But, as many will have you believe: "America is the strongest country, we will bounce back." Oops! Have they forgotten that we, as a country, have already sold out to foreign countries. We get our oil from other countries. We get our products from overseas. (isn't everything 'made in china'?) We have shipped our jobs to foreign countries. Hell, we even get some of our food from overseas. Oh yes, we also have sent our corn to third world countries, (humanitarium) thereby reducing our reserves drastically. If it wasn't all so ludicrous, it would almost be funny. Not!