Thursday, February 19, 2009

Dow ends at lowest close in more than 6 years

I knew they would come up with some other reason than the truth, "Tuesday ... the index tumbled 300 points on worries about the economy and the stability of banks in Eastern Europe." Um, no, it plunged because there is no confidence with investors that the government porkulus will do anything but cause more harm. The exact same thing occurred with the last so-called stimulus. The only people who think this has any chance are the poor, not-so-bright. And they probably could care less about the national economy, they are more concerned with the new kitchens and cars they are going to get. Dow ends at lowest close in more than 6 years: "The Dow had been threatening to break through the November bottom since Tuesday, when the index tumbled 300 points on worries about the economy and the stability of banks in Eastern Europe. Stocks had barely finished above the November low on Tuesday and Wednesday."

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