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UncleNasty -> Financial Armegeddon? (10/7/2008 2:27:55 PM)
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For shits and giggles I took a look at the Dow Jones Industrials today.
In the previous year the high was 14,198.70 on October 11, 2007.
Today the DJI closed at 9447.11. Down 508, or a little more than 5% from yesterday.
For the previous 52 weeks down 4750, or approximately 33%
I'm fairly knowledgable about money, currency, the mortgage meltdown and banking. I really don't know much about the intricacies of the market. But I can't manage to view this in a positive light, particularly since the citizenry has been put on the hook to the tune of 700B and that was supposed to be the "Mother of all Bailouts."
Uncle Nasty
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