Greece is burning...Once the ancient center of culture, art, democracy, logic and fair play; today the noble citizens of Greece are broke, crazy, and rioting in the streets. An austerity bill has been passed. World markets are caving. There's a run on the Euro. The European and Asian markets have been negatively affected. Things are bad, and getting worse. I feel my guts churning! This is scarier than a roller coaster ride at Riverview! I'm watching the Dow Jones going down...down...down...My life's savings are going down the drain, right before my very eyes! Many of our states are bankrupt. The U.S. Treasury keeps printing money. Guys from Texas, Wisconsin, Kentucky and other non-union states are coming up here to the North, trying to take away our union jobs. I see and smell the violence and confusion all around me. Crude oil prices are down today...The flood gates have opened, and illegal immigrants are pouring into America, placing more pressure on our economy, and social regulatory systems. My government is over-taxing me. My insurance rates are going up. My property taxes jumped significantly. My Medicare benefits have been drastically reduced. My Union Pension and Health Insurance are in dire straits. I am watching the implosion of world markets on my tv. Believe me, darker days are coming. We can blame greed. They finally did it. We are going to see Economic Armageddon, worldwide. Our government gave the money away to the wrong people. They gave it to the evil ones, the lazy ones, the people who lived beyond their means. Also, they gave our money to wealthy people, who don't pay their fair share of taxes. They have a cabal of attorneys, to find tax shelters.
Today, all the market fears are coming back. So much for all the economic indicators. We're going to call this Black Thursday, if the Dow keeps plunging like this! Since I started writing this blog today, the Dow has fallen 700 points, down to -900! God help us all! People are rushing to buy Gold.
Amazingly, the market starts coming back! It's now one hour before the closing bell, and the market is up to -344! I can't believe my eyes. Some experts say high-frequency computer trades, caused this great plunge. The NYSE, says there was no technological error causing a 998.50 plunge, in 20 minutes. Today's Dow intra-day drop, is the biggest recorded in History!
Sources now say, that a trading error at a major firm, caused the drop. Do I smell a rat here, somewhere? Was the market manipulated for some quickie buys? I'm wondering how my bonds did? Who the hell fell asleep at the wheel today? Two billion shares were traded to the down side today. Maybe this triggered the big drop...due to margin calls.
It's four minutes to the closing bell, and I have choked down half-a-bottle of Maalox...lol! I think I might buy G.E. stock tomorrow morning, while it is still low. At the closing bell, the Dow loses -350.97. This is a 3.23% over-all loss. Strangely, I'm relieved. Who says retirement is a time to rest?