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After Black Friday, Bleak Monday
December 01, 2008 6:13 PM
We've certainly learned our share of lessons in the last couple of months: a good spell on the markets doesn't last long; a trillion dollars in wealth can be lost in a day; and when fear siezes Wall Street, no company -- healthy or otherwise -- is immune. Nothing should surprise us any longer. As the closing bell rang this afternoon, we had this to consider: the fourth-largest single-day drop in the history of the Dow Jones -- thereby ending with a bang the so-called "Obama Bounce"; and the news that it's officially a "Recession" now. As if you had any doubt.
December 1, 2008 in Economy | Permalink | Share | User Comments (5)
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It feels more like we are on the verge of the Great Depression II!
Stay tune!!!
Posted by: sisterdearest09 | Dec 1, 2008 7:24:18 PM
Let's DEFINITELY keep calling it Black Friday - anyone see em running over people for a dealz?? Funny "creatures"
Posted by: Marcus | Dec 1, 2008 8:45:01 PM
"Nothing should surprise us any longer."
No, after "Black Tuesday" nothing should.
Posted by: visor | Dec 1, 2008 9:27:38 PM
Can't wait until the media pulls their head out of their a**, looks around and reports on whats going on, rather than what the "experts" tell them. Crap journalism. You have done us all a disservice.
It's a depression folks, if you didn't see this coming, perhaps you should take off the rose colored glasses.
Posted by: Craig | Dec 1, 2008 10:19:00 PM
Craig - this is nowhere near a depression. Heck - even though the Dow has dropped significantly & companies are having layoffs, it's still not as bad as the late 70'/early 80's - when mortgage rates were hovering around 20% and unemployment was higher. It's not as bad as the early 70's, when there were gas lines and you could only purchase gas on certain days, dependent on the last digit of your license plate. Things have been much worse and we've always come out of it - and we will again. Personally, I think it's good for us all to suffer a little- we will all be better for it and appreciate it more when things are going well.
Posted by: ellsbells930 | Dec 1, 2008 10:34:45 PM
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