Saturday, June 21, 2008

DOW Breaks 12000!

Well, this ain't any fun.

Easier to pick on Wall Street when its doing better, but I tend to check in at the major milestones and this currently one reflects a severe sinking since May of this year. Hacking a thousand points off over the course of a month and change takes some serious work.

Of course, part of the sudden downturn may be because of friday's arrest of a couple of Bear-Stearns flunkies for hornswaggling their customers about the health of the subprime mortgage market, telling the marks to invest more cash while bailing out as fast as they could.

It may just be that a lot of other investors are suddenly looking over their shoulders and deciding that it is time for a long summer vacation.

More later,