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I just don't get all the hype over this. We're NOT in a crisis. We're in a recession.. a recession that could possibly hit the 16 month mark. You can look at all the numbers out there and we're not even close to depression numbers. The market dropped 700+ points yesterday..but it was only a 7% loss. In '87 the market lost something like 22%.. so it's pretty pale in comparison. BAA numbers show a deep recession.. not a depression.. so I wish everyone would quit calling this a crisis.
The market goes up and down.. companies go up and down.. but for some reason, we are scared of Wall St. companies going down.. it's a free market and other companies, just as they have, can and will buy these downtrend companies. If people would quit panicking for a moment.. you'd see the market respond a touch.. sure.. the market goes down faster than it goes up.. and everyone is worried about their annuities and 401's.. but making a panic run isn't going to help secure these monies.
SO.. this is why I think the bailout in any shape is a stupid idea. We're throwing a band-aid on a gun wound.. and we've done that too often in too many areas.
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