Tuesday, September 30, 2008

Investors chill

I'm not an economist. Hell, I can barely balance my own checkbook. One thing that I do know is that the world isn't going to end. As I said in a previous post, let the free market sort out the winners and losers. Let the companies with poor buisness practices self destruct and be gone forever, but don't saddle us* with the burden of saving their asses.

Yesterday the "Bailout Plan" failed to pass a vote in the House. Thank . Investors did panic yesterday on the news, but it looks like they have regained their composure and have figured out that all this settling out might not be such a bad thing after all. The Dow has so far recovered 4/7ths of the losses from yesterday. That's huge! Good for Wall St. for not digging their heads into the sand and continuing the freakout.

Oh, and if you have some cash on hand... Now's the time to buy stocks. Actually, you might have missed your opportunity by about 8 hours!


*Us - All income tax paying citizens of the United States

2 comments:

Never Say Never Greyhounds said...

Amen again! I'm so glad to be 32 and dollar cost averaging into the market every month. I love huge sales!

Jen

Dan & Margaret said...

Whew! Fer a minute there, I thought you meant.... us
;)