DISPENCE

Sell it all! Get out of the stock market! The world is crashing!

A quick excerpt from the AP wire:

•  SAO PAULO, Brazil (AP) – Latam stocks plunge deeper: Brazilian
  shares now down 15 percent on slowdown concerns.
• Tokyo’s Nikkei 225 index fell to its lowest level in 4 1/2 years, sinking 4.25 percent to 10,473.09. Hong Kong’s Hang Seng index slid 5 percent to 16,803.76. Markets in Tainland China, Australia, South Korea, India, Singapore and Thailand also dropped sharply.
•  NEW YORK (AP) – Wall Street is plunging, with the Dow Jones
  industrials down more than 500 points amid growing fears that the
  credit crisis is spreading around the world.
•  NEW YORK (AP) – Oil prices broke beneath a key support level
  Monday, trading under $90 a barrel for the first time in eight
  months on expectations that a widening financial maelstrom will
  drastically reduce global demand for energy.
•  Iceland and Denmark became the latest countries to declare a
  deposit guarantee Monday after a startling announcement by German Chancellor Angela Merkel on Sunday that her government would guarantee all private bank savings and CDs held in the euro zone’s largest economy. “We want to tell people that their savings are safe,” she said.

So I’m sitting here watching the wire come over and am just thinking… what’s happening here? Where is the world going? I think like is going to be a bit different soon.

Then I go online and see that Jim Cramer, one of the most respected stock market analysts, is saying it’s time to sell everything!

In the mean time, others are telling people to stop spending and save. That’s what I’d like to think I’m doing.

Hmm. I’m glad I don’t have any stock, do I?

This has to be good for Obama. Polls show he leads on this economy issue.

This entry was posted on Monday, October 6th, 2008 at 8:40 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.