Dwight Watt - Watt Thoughts #168 11/4/2008
#168 – Be careful what you ask for (Watt Thoughts)
Signs I saw recently on a back of a car. “Anybody but Hillary” and “Vote No Obama”. Sometimes you get your wish and then don't like it. Here was someone who was convinced Hillary was the worse candidate in their mind and wanted Democrats to nominate anybody but Hillary. The Democrats did nominate someone other than Hillary. And this person wanted anybody but her. The Democrats nominated Obama and it appears that person now decided Hillary was not the worse and is campaigning against Obama. Be careful what you wish for, this person got their wish, “Anybody But Hillary”.
The stock market plunged in October after falling for several months. I have learned several things in this fall.
Few investments are apparently made for the long term anymore, it is how is that investment going to pay off in a hour, or a day and a month appears to be considered held long. People used to invest in stocks for holding for years and that it would have ups and downs but trend up in years. I am apparently a member of a minority here, as I hold my investments for years.
Second is that I have continuously heard for over a year the reason when stocks fell on a day is that we are in a recession or investors fear one is coming soon. Then several times in October we heard on big fall days that prices plunged because stock brokers think we are going in a recession. (Side note: up until the last 15 years or so a fall of 700 points in one day was about literally impossible. I still recall when the Dow broke 100 for the first time in about 1971 when I delivered papers). I guess stock brokers on Wall Street never see or hear news so never had nay inkling that we may be going in a recession for a year now, and those that pulled out of the market on certain days all year because of fear of recession just told CNN, MSNBC and other media but kept it secret from their fellow stock brokers. Maybe the government which seems to have so many leaks might want to get the market to hold their secrets.
Third is that all spring we heard oil prices rising are causing stocks and the economy to fall. Now oil is falling and the word is that stock prices and the economy are falling because oil prices are falling.
I am just as confused on the economy stories as I am on the bumper stickers on the back of that van.
If you have not voted, vote today. I am one who believes you don't have a right to complain about how government works if you fail to vote. Whether you voted for or against the person who wins you can complain or praise them for what they do, and rest assured they will get both from you if you follow what their actions are. I voted last week absentee as I will be 300 miles from my poll location working at my job today.
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(c) 2008 by Dwight Watt