The markets took a big hit yesterday as the major indexes lost some 3%. That puts the S&P; 500 back to levels reached last at the beginning of December. Many buy and holders, who had counted on a continuation of the rebound, are certainly disappointed about the market direction so far this year. Sure, I’d be on edge too if I had to make up 50% of losses sustained in only 1 year.
With the markets in the doldrums, some readers focused on trying to find some humor in today’s environment. A difficult task indeed, but here are a couple of pictures that were sent to me made possible only because of Ponzi scheme uber-expert Bernie Madoff.
With many people and organizations being affected by the fallout of the alleged $50 billion scheme, here’s one suggestion for punishment:
Comments 1
“The actions taken by my administration in response to the financial crisis have laid the groundwork for a return to economic growth and job creation, and they are beginning to show some early results,” President George W. Bush said. Bush is the epitome of arrogance, gall, stubbornness, and stupidity all wrapped up in a single package. He will go down in history as one of the all time worst presidents. Ironically, the gall of his statements today will help seal that fate, so perhaps we should be thankful for them.
Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com
Its amaizes me how an outgoing president can take credit for a rebound that is yet to materialize. Damn i wish i had a crystal ball as George must have. Snoobers