Market Oracle
Many investors don’t look at the long term picture of what is happening. I am talking about looking at 10 to 20 year periods of time. If you looked that far out on a number of key stocks and indexes, you would understand the gravity of the current condition we are in. Freddie and Fannie have been the under pinning structure of our mortgage industry. Both of these stocks and institutions have crashed to levels not seen in 18 years. The gravity of the situation is very serious and a challenge that Bernanke and Paulson either don’t understand, or don’t know how to solve. It used to be said that, “As the automotive industry goes, so goes the country”. That was said in the days when we were still a manufacturing country. Then in recent years, Greenspan consistently stated that we were shifting from a manufacturing economy to a service economy. In other words, we were shifting all our manufacturing jobs overseas. General Motors is still an important facet of our economy, only their stock has crashed as well, and GM is now in some very serious trouble. As of yesterday, its stock was lowest value it has seen in decades. More
-
Categories
-
Archives