Dear Friend and Reader,
Monday, the Dow Jones Industrial Average starting cranking up the steep roller-coaster incline, climbing 936.42 points to 9387.61 as of 4:30 pm EST, making it the largest point increase, in a single day, since the Great Depression.
After weeks of record drops, it seems we either hit bottom and had nowhere to go but up, or the international bank solvency and bailout plans in the European Union and the United States, made over the weekend and this morning, are actually working.
Monday morning, the U.S. Federal Reserve announced that it would flood three international banks with as much U.S. cash as they can hold, making it possible for these larger banks to trade with each other and also assist smaller institutions.
The bounce back is the first increase since the market started steadily free falling on Oct. 1, and with a general downward trend since Sept. 19. The question on our lips is: will it last? It’s impossible to tell at this stage, but Tuesday’s closing points will certainly be an indicator of days to come, as the bond market re-opens following Columbus Day weekend.
Yours & truly,
It’s the unfortunate truth — this level of market volatility is Great Depression economic history all over again. They saw the biggest market losses, and the biggest market gains, though they were short-lived, during that period.
At this point, go for Adavan or welbutrin, though I gave up the cigarettes long ago.
Are you being cynical or shall I stockpile Prozac?
Now onward to a Greater Depression!!!
I am so glad the Great Depression is finally over.