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DOW 14000
By JBC | July 20, 2007
If you are a big fan of the business/investment programs on the likes of CNBC, CNN, FOX, and their evil offspring, you are probably caught up in the hysteria of the surging stock market. To hear most of these buttoned-down Wall Street groupies, the United States of America is an unstoppable force, fueled by our ability to fully integrate into the global economy.
Well, the Dow Jones Industrial Average (DJIA), the Standard and Poor’s 500, and NASDAQ are only indicators of investors’ expectations in the future profitability of corporations. While these investors are possibly more savvy than the average factory worker, they are not omniscient. Much like big-money Vegas gamblers, they know how to play the game, but the game does not bend to their beliefs. There are certainly signs out there that we could get a losing hand at any moment. Just a few of these worrying signs are depressed “working-class poor” wages (driven down by unmitigated illegal immigration), an historically weak dollar which continues to plummet (can you believe that one British pound sterling is now worth $2.05!!!!!), public consumption built on ever-growing personal debt, and a governmental lack of control that has our country in stifling debt (which is primarily held by foreign countries, especially China).
So, enjoy your champagne and let the good times roll. After all, isn’t it America’s new policy to live in the present and hope things can be solved by the passage of time? Like Scarlett O’Hara said, “Tomorrow is another day”. Let’s hope Tara hasn’t been burned by the yankees.
JBC
Topics: Economics |
