The Economy

Watching the market fall yesterday, did not instill me with the sense of running around with my hair on fire that it did with all the news networks. I often wonder if anyone actually listens to anyone anymore. Back in late October, early November some of the smartest economic minds said the bottom would near 6400.

The Dow fell below 7000 yesterday; I see it more as the end of the beginning instead of the beginning of the end. It is almost impossible to think that no one in the MSM or the business media remember saying 6400 would be the bottom. I know they have researchers on staff; I hope they have researchers on staff and one would think that the responsible thing to do would be to look through all the projections made during the waning days of the previous administration and instead of acting all panicy remind the public that this was predicted and there are signs of hope that we are coming to the close of the economic downturn.

But what do I know, I just read everything I can get my hands on and watch from the sidelines and know that eventually things will turn around and I certainly can't panic every time the market finds a new low. One would think brokers and economists would be more pragmatic and less apt to panic than me. I seem to be wrong, since most news organizations can't seem to understand basic tax information.