Last week, the Dow was on the skids, and the media was SCREAMING that Congress “do something!”, even if that something was mortgaging future generations to the tune of $700 billion. The markets were ANGRY that the House had rejected the bailout! Why was Congress dilly dallying?
And no, there was NO TIME to spend devising a better solution to our economic ills. It was the bailout OR NOTHING! Didn’t we know that this was the only way to PROTECT PEOPLE’S 401Ks?????????
This week, the Dow is still crashing, and …. oh well. Oh, are people’s retirements going up in smoke? Shrug.
Forgive me, but I still don’t get how government by Dow works.
“There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.”
I guess we got fooled again.
Oh, and this, from the BBC at 6:26PM MDT:
“Asian markets plummet in early trading after Wall St stocks closed at their lowest levels for five years.”
Plummet — to fall or drop straight down at high speed.