What a bloody October!
The first week of the month, October 6 – October 10, Wall Street dipped 1800 points, about 18%. For the year, all three major indices, DOW JONES, NASDEQ and S & P all hit record bottom. Investor lost 1.2 trillion dollars during the week. Everyone is feard and felt the pressure of recession.
The second week, although the traditionl earning report week for US Coorporations, but the news were all glommy, the markt just kept on falling. The American people totally lost confidence in the Government. So went the world. The domino effect went from New York to London, to Russia, to Iceland and to South Korea. It was so bad that Russia officially closed their stock market exchanges twice in October. South Korea government had to inject billions of dollars to save their financial institutions.
Only the Chinese are grinning – they are holding the notes of US Government bonds.
Will the Valley be immuned? It’s not looking good.
The air is so thin, I am starting to be suffocated…
Turn off the TV, turn off the radio…. I want some fresh air!!!
It’s less than a week before the historical election of 2008. On November 5, when Americans wake up, will all this be a dream??