Anything can happen in an year. Dow made a lifetime high exactly an year back and now it's still not settled down, yet to find its base.
It fell almost by 40% in this one year.
Today Dow fell by '678.9' pts, isn't it interesting :)
An interesting comment by Marc Faber, investment analyst.
" The federal government is sending each of us a $600 rebate.
If we spend that money at Wal-Mart, the money goes to China.
If we spend it on gasoline it goes to the Arabs.
If we buy a computer it will go to India.
If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala.
If we purchase a good car it will go to Germany.
If we purchase useless crap it will go to Taiwan and none of it will help the American economy.
The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I’ve been doing my part."
Thursday, October 09, 2008
Wednesday, October 08, 2008
Ø The Fed reduced its benchmark rate to 1.5 percent
Ø The ECB's main rate is now 3.75 percent
's fell to 2.5 percent Canada
's rate dropped to 4.5 percent U.K.
's rate declined to 4.25 percent Sweden
cut interest rates for the second time in three weeks, reducing the main rate to 6.93 percent China