The End of the World Is Close Behind the End of the NYSE

August 18th, 2011

Does anyone know what’s happening?

It’s 40 minutes after the opening bell on the New York Stock Exchange and the Dow Jones index is down 505.95 points. This HAS to be the end of stock exchange trading as we know it. Why don’t they close down the exchange before people start jumping from windows? Forget about your and my paltry portfolios, what about the huge institutions who invest their zillions in the exchange

Pension and Insurance companies

What about your and my pension funds and life insurance policies who have globs of our money invested in exchanges and pay our monthly stipends from the proceeds of their investments? What about the huge banks who have invested their billions in the markets? What about the huge businesses whose value is crumbling into dust before their very eyes?

50 Minutes after the bell

The Dow is now down only 446 points. We picked up 59 points in 10 minutes, not a bad rate of increase in normal times.

60 Minutes after the bell

The Dow is now down only 464 points. It’s yo-yoing and making a messy looking graph. What’s happing too, I think, is that many players are seeing bargains, shares that have dropped to their lowest points in months and maybe even years and are starting to buy. I too see what look like bargains, but I am too scared to lose more than I am already losing by the general market fall, so I sit still and hope for the market to rise. Of course I could be waiting for the market to fall even further. Yes, you are correct, I am confused. Who isn’t?

90 Minutes after the bell

The market seems to have steadied at about 450 points down, a major fall at any time. On the upside the list of bargains grows and grows. The initiators of mass moves on particular nominated shares will get nowhere today. It’s a general shambles and in keeping with what’s going on around the world. Besides the countries, mostly scattered around the Mediterranean rim, in deep financial straits, there are many other countries in the throes of social uprisings and revolutions.

Social uprisings

North African countries are in what is being called the Arab Spring. Egypt, Libya, Yemen and Syria are all embroiled in social problems which will inevitably turn into economic problems as they spend good money on arms and ammunition quelling the rebellions. Most of the social uprisings have been fueled by their poor living conditions. With internet and satellite TV there are no secrets anymore. Anyone can see exactly how the other half or the other 90 percent live and want to get to that status themselves.

How to fix things

I don’t know and I suspect that no one actually knows. All the mavens, prophets and advisors are lost in the shifting sands of the stock exchange. What we need is some resolve and action on the part of everyone to put things right!

This entry was posted on Thursday, August 18th, 2011 at 10:32 am and is filed under Business, Economy, Finance, Money, Personal / Internet. 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.

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