Time Travel
Apparently, Tuesday, September 30th did not happen, as most of the market talk has been about the Dow dropping 777 points on Monday, September 29th. No mention of the 485 recovery yesterday. Last night on PBS, the doom-and-gloomers kept bemoaning Monday’s tumble; only one lady, reluctantly, admitted that the market was up on Tuesday. I can attest that yesterday did indeed occur as it was payday and my bank account showed the direct deposit of my check.
Those that do discuss yesterday’s recovery claim it was based on the hope of a new bailout proposal. I have my doubts about that. There seemed to be more finger-pointing yesterday instead of new ideas about a fix for the supposed credit problem. The only news so far is that the Senate will take up the issue today, but no specifics have been mentioned.
While it may be unknown how the market will react today, you can be assured that markets tumble, the media will report the decline as a sign of a failing economy, but if markets go up, they will ignore the recovery.
