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Aug 08

Another selloff after credit rating is pulled from AAA for first time since 1941

bigzman Posted by: bigzman Print PDF
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Not since the end of the Great Depression have Americans seen an economy this bad.

I guess the rules that applied during the sorry stagflation period of the 1970's no longer apply--and to me, looking back...it is very sad to see.

It started out bad on Monday, and it only got worse.

By the time the closing bell happened, the Dow settled down about 635 points...the largest single day drop in the markets since October, 2010.

Even some in Congress are squarely blaming it all on President Obama.  It's just, each time I type this--not to get too personal here but it seems like this roller coaster is going out of control and there are very few people around to stop it.

Clearly, we all know who is at fault.  It does not take a person with an average level high school education that can figure that part out.

What happens after the FOMC meeting this week is anyone's guess.  But based on the last few quarters, I would be totally, totally shocked and stunned if interest rates do not go up even one quarter (.25) of a percentage point. 

Anything to get this economy out of these sorry doldrums would be of welcome help to me, to Georgia, to other bloggers and members here on this site, and other Americans for that matter.

Just like that one Garfield poster sprayed along most grade school and high school classrooms during the 1980's said it best with America's favorite cat snuggled up around his blanket with a very simple saying:  "I hate Mondays."

I wish I had other answers.  Please continue to pray that better days will be ahead for us.  That is all I can say at the moment.

Maybe, my next blog will have a better headline.  Maybe.

 

 

 

 

 

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