Economy = Worldwide Yikes ~ Random Waves of Insight
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Monday, October 6, 2008

Economy = Worldwide Yikes

Just a few days ago the stock market plunged 777 points. Today I saw that it went down 555 points. What a coincidence! Not really…

A couple of years ago I had heard that the market was due for a major correction. At that time the cause of the correction was not yet known. Now everybody is aware that the catalyst for our current situation was a mortgage crisis. Who would’ve guessed, in years past, in the face of ever present refinancing ads on television and the Internet, that it was all a sham, and about to explode in our faces?

I can’t believe that the current situation in America is cascading to foreign countries. I read on Yahoo this morning that the situation is really just based on fear, and knowledge that our 700 billion-dollar bailout will take a little while to kick in. Oh well.

I just hope that this situation doesn’t turn into another Great Depression.

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