Daily Investment Interpretations
June 22, 2010
The markets plummeted again today.
The NASDAQ Composite lost 27.29
to close at 2,26180, the Dow plummeted 148.89
to close at 10,293.52,
and the S&P 500 nose-dived
to end at 1,1095.31. on fears that the recovery will be derailed:
Recovery doubts stir Street.
Oil ended at $77.60 a barrel, while Gold was up
at $1,242. The VIX rose 2.07
For what little it's worth, it seems to me that Paul Krugman's arguments are on target regarding Europe shooting itself in the foot. Raising interest rates and cutting back on government spending at this juncture would seem to me to insure slowing economies: U.K. gets with the austerity program, and A budget of choice, not necessity. But we'll see what happens.
My personal incubus is the idea that we're witnessing "The Decline of the West" (a la Oswald Spengler). If Europe makes a grand mistake now, Asia could take over from the West sooner rather than later.
Rob Russell: Economy lacks wings
Mark Hulbert writes: Is a double-dip recession certain? .He concludes that it isn't: it may happen, but then again, it may not.
A frustrated Paul Farrell is writing again about what's happening financially to take the U. S. under: An Invisible Gorilla is killing America's soul. Unfortunately, there's general agreement on Wall Street that nothing is being done to prevent another financial tsunami. And equally unfortunately, it isn't clear that we'll escape the current crunch any time soon.
Stock market futures are up slightly tonight.