In just the past two days the stock market has had the worst drop since 2008. On Thursday the Dow plunged 391 points – with mid-day drops as much as 540 points.
Unemployment remains a serious concern. The Federal Reserve’s negative outlook and ridiculous reaction to the economy is not helping matters. The overall Global Economy continues to struggle. President Obama’s Job Plan is being viewed as a “non-idea” and has little chance of success.
Basically – the S is H(itting)TF. Slowly but surely it is happening.
Time will tell. As the economy continues to struggle it will become more obvious what the outcome will be. How long will the economy continue to drag along before it just collapses from exhaustion? Who knows. I want to believe that it can turn around – but at the moment I just do not see it. Is it possible? I think…….barely.
Normally the market would rebound and in a big way after such a drop on Wednesday and Thursday. Will be interesting.