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October 21, 2008


"The Wall Street Journal, the historical business daily, fails to put a date and time stamp on its online version making it impossible to determine how fresh the news is."

Interesting . . .

I find it interesting that we needed the media to tell us that we were in financial trouble. We have yet to have even 3 months of negative growth in the USA and many were so far out there with credit ,that they couldn't take 90 days of bad news? So we have the media tell us on 9/28 that we are in "crisis". Thats great, the Dow Jones average started going down October 7th over a year ago. In one month it was down 1000 pts (7%), By January it was down 2000 pts (14%), by July it was down 3000 points (21%), and about the time it is down 4000 points, the media tells us we have a problem! Our problem is most people are in debt and they waited for journalists to tell them when enough was enough.

I'm with Anthony. I don't understand why anyone is surprised that this happened. When they first started talking about those interest only mortgages, Scott was shaking his head and saying it was going to be a disaster.

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