What Happened????
Today the Dow fell 777 points or 7% because the House rejected a bill to provide a $700 Billion boost to our ailing economy. Why, Because people in office can't read. I am a staunch Republican and even I support this bill.
The bill does NOT just give $700 Billion to these companies, leaving the tax payer (you and I) to pay for it.
It actually is a HUGE investment for the government that would actually make us money. For the $$$ we would be getting ASSETS!!! When the economy is stronger in a few YEARS the ASSETS would be worth MORE than the $700 Billion spent. WE WOULD WIN. The U.S. Government is one of the only organizations large enough to hold a $700 Billion Investment for years, but stupid enough to let it slip through their fingers, this could have been a way to staive off paying for medicare and social security for a few more years, until a better alternative arose. I am disgusted and will be checking to see which way my congressman voted to see if he deserves my vote!
I do believe that the market should correct part of itself as Goldman Sachs has and Wachovia being seized and sold.
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My portfolio has fallen over 28% so far this year, yes my portfolio has some risky investments like Sirius and Fannie Mae, but I also have corner stone companies like Microsoft, GE, Wells Fargo, Coca Cola, and McDonalds. I am extremely lucky that I didnt put my Spain money into Stocks, I was thinking about it though.
All of my Spain money will stay in a money market account. I do believe that this is a buying opportunity for some stocks that were down that do not have a huge connection with the credit markets.
At least my loans in Prosper are doing well..... Want to make a quick $25, let me invite you to join prosper. (I make $25 too!)
