Monday, October 06, 2008
DOW Dips Below 10,000 Because of Bailout
That's how the headlines should read. The DOW dropped below 10,000 today "despite" the bailout. All the news medias keep saying that the stock market is still tumbling "despite" the bailout. Perhaps the falling stock market has nothing to do with the bailout -- or, more likely, the people who own stocks understand that the bailout will cause more harm than doing nothing. People are looking for a simple, linear cause-and-effect between what the government does and how the economy does, and it's time people learned that that simply is not and never has been the case.