Posted by
rycK on Tuesday, September 30, 2008 3:30:24 PM
Forbes Predicts Cardiac Arrest for
Today as the Market S0ars. [?!!]
“Forbes
says the economy is already in a recession, and predicted that financial
markets will take “a huge hit” on Tuesday in addition to a nearly
778 point drop the Dow Jones Industrial Average experienced on Monday. It was
the largest single-day drop in history, and effectively erased $1.2 trillion
dollars in market equity.”
Then, why is the market up nearly
400 points?
“Forbes also voiced
strong reservations over the economic policies of Democratic presidential
nominee Sen. Barack Obama, D-Ill. “Small businesses would be hurt by his big
Social Security tax increase and raising taxes on capital, which businesses need
to grow and create new jobs,” Forbes said. “So yes, he would make the situation worse, and he’s already proposed
about $800 billion dollars in new spending programs. He says he’ll get the
money by closing loopholes, which means he’s going to print it.”
The problem here is that we must NOT subsidize
economic failure and bad debts as they do in Europe or we will look just like that sewer.
H mmm ??