Blog Archives

Nationalizing

February 23, 2009

Good afternoon. There was continued market fallout in the last week’s holiday shortened week, with the SPY down an additional $5.44, or 6.6%. That brings the decline this year to 14.2%, and it is only the middle of February! The XLF, the financial sector of the S&P 500, was down 16% on the week to a total decline of 40.6% so far this year.

The Heart of Darkness

February 18, 2009

Good morning. The hits just keep on coming. Last week the market (SPY) was down $4.22, or 4.9%, and yesterday it followed up with another drop of $3.54, or 4.2%. That brings the unhappy totals for the year to down 12.2%, and it is only mid-February. Yesterday’s “official” reason for the sell-off was the continuing stream of bad economic numbers from Asia and Europe. Remember how we were forced to listen to some of the so-called “experts” within the last couple of years ago telling us how Asia was so strong that even if we went into a recession it would not matter to them? How is that theory working? And why were those morons on my TV set?