Up, down, up down. Runs, constipation, runs, constipation.
Seems like the same thing to me. Still getting shat on.
"Jittery investors look for signs on market" by Robert Gavin/Boston Globe Staff August 30, 2007
Wall Street's roller coaster ride continued yesterday as investors wondered whether the economy is heading up or down.
The stock market soared to one of its best days of the year, just 24 hours after suffering one of its worst, adding to the series of triple-digit swings in the Dow Jones industrial average. The Dow climbed nearly 250 points yesterday, rebounding from Tuesday's 280-point plunge, to close at 13,289.29.
The stomach-clenching ups and downs are a product of the uncertainty gripping investors as they try to gauge whether the turmoil in housing, mortgage, and credit markets will push the economy toward recession -- and whether the Federal Reserve will act in time to avoid it. That uncertainty is likely to continue for several weeks, analysts said. So will the market gyrations.
Jim Weiss, the president of Weiss Capital Management in Concord:
"The greatest problem we have is lack of information about the extent of the credit market problems. There's still fear and concern of how bad this will get."
Mark Zandi, chief economist at Moody's Economy.com, a West Chester, Pa., forecasting firm:
"Investors are very concerned about the strength of the economy, given the worsening housing and mortgage markets. The housing market is going from bad to very bad, and that's going to drag down the economy for longer."
Not on the web(?):
"The recent turmoil in financial markets has been driven by the meltdown in US housing and mortgage markets. Investors who bought risky mortgages have suffered big losses in the face of rising foreclosures. Some hedge funds that invested heavily in these mortgages have been all but wiped out.
As a result, lenders and investors pulled back from lending and investing, raising fears of a broad credit crunch that would make it harder and more expensive for businesses and consumers to borrow and choke of economic expansion.
The deterioration in the housing and mortgage markets and the threat that it could spill over into the broader economy have increased significantly."
[Why would you want to censor that, MSM?
They are something, huh, reader?
No wonder they want us to go webbing.
Easier for them to censor their stories.
They never factored in blogs, though!]
