Quote:
Originally Posted by Lexxxy
So the market is down, am I the only one that gets excited about it and buys stocks when they are down? I just went on a shopping spree haha.
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Still feeling just as confident today, Lexxxy? The craziness is running rampant down there. These wild swings highlight just how precarious things have become. The market might bounce back quickly, or it might take 10 years to recover.
And politics is playing a huge part of it. Republicans want to embarrass Obama after the bin Laden thing, and so they're doing what they can to accomplish that and cause him to face public unrest. Some of it, he deserves.
This recovery has been too mild, no real jobs came back, and very little lasting public confidence was restored. We have a national economy that relies too heavily on consumer spending, which is rarely very meaningful.
Things are bad back in Ohio, but here in New York State, the future looks very bleak. New York tax revenue is principally based on income tax, and the majority of that comes from Wall Street. When Wall Street tanks, so does New York. Look for New York's revenue picture to dim. And government is like a hungry baby crying to be fed. They'll make the revenue needs up elsewhere (other taxes), and that will hit people working all over the State. You'll never see them make do with less.
My Bio Page - New York - Upstate
Stocks...
My Bio Page - New York - Upstate
