Saturday, October 20, 2007

The Sky Is Falling...Wolf, Wolf...

Just like those childhood story lines were false cries of doom, the MSM will no doubt be crying from the hills on the front page of every major newspaper and lead story of every major newscast of how the economy is doomed after yesterday's 360 point drop of the DOW.

Of course they will ignore the fact that it is still higher than even the low point of this year. They will ignore the fact that the market is still the strongest it has been ever. They will ignore the fact that the market always makes corrections. They will ignore the fact that already this year we have had a couple of triple digits drops only to see the market rebound shortly after and continue to grow stronger.

They will ignore all those facts and just point to one indicator that without all the other facts appears to express their viewpoint that the economy is doomed and it is all Bush's fault because of the war in Iraq.

3 comments:

Mike's America said...

The DOW goes up, the DOW goes down.

But mostly, it goes up!

Ian McGibboney said...

You know what else goes up? The price of just about everything, even as our paychecks stay the same or decrease. For those of us without stock portfolios, the Dow isn't helping much.

Cajun Tiger said...

When the DOW goes up, means businesses are doing good, then salaries incease. And increase they have. The solution is definitely not to raise taxes like liberals plan to do if given full power which if you are worried about size of paycheck...higher taxes = smaller paychecks immediately and even smaller in the long run when businesses are hurt due to the new taxes.