Bernanke Should Have Raised Rates
I don’t know if anyone else has heard, but it has been a really bad day- week- month- year for the stock market.
The S&P 500 is down 22% since the October 2007 highs. The S&P 500 actually closed higher on March 10, 1999 than it did today.
The Nasdaq is down 23% since the October 2007 highs. The Nasdaq actually closed higher on January 7, 1999 than it did today.
The Dow is down 24% since the October 2007 highs. The Dow actually closed higher on December 28, 1999 than it did today.
The S&P 500 is down 22% since the October 2007 highs. The S&P 500 actually closed higher on March 10, 1999 than it did today.
The Nasdaq is down 23% since the October 2007 highs. The Nasdaq actually closed higher on January 7, 1999 than it did today.
The Dow is down 24% since the October 2007 highs. The Dow actually closed higher on December 28, 1999 than it did today.
Bush 41 blamed Greenspan for his 1992 loss for being too stingly with money. McCain's slim to none chances are being destroyed by Bernanke being too loose with it. The economy needs some tough medicine, and he really blew it yesterday.
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