The last thing you wish to see, or rather hear, is the pessimism from the most powerful person in charge of nation’s economy. This of course applies to person(s) who is transparent about the economy status and do not beat around the bush, never mind he was late in taking the necessary action to put the economy back on track. It’s much better than some leaders who lied blatantly right through his eyes without a blink.
The Dow Jones might fell 175 points but if you weight what Federal Reserve Chairman Ben Bernanke said against how much Dow suffered Wednesday, it’s actually not too bad. On Valentine Day, Ben predicted a “sluggish” economy until later in the year and more mortgage-related losses at banks – giving obvious hint that further interest cuts are on the horizon.
Bernanke’s pessimism was so obvious that the chief market analyst at Jefferies & Co. joked the Feds Chairman was more bearish on the economy than he (and other analysts) was before. And when you have the most powerful person said how things could be getting worse, not better, you can’t blame the market to turn reddish. Nonetheless you should be grateful to see the Dow only took the small beating of 175 points and not 300 points or more. Maybe the market has been bleeding for too long that there’re simply not much blood left, which is good as it indicates the bottom could be around the corner.
So which type of investors actually makes good and easy money out of current situation? Who else if not currency traders and speculators?
Other Articles That May Interest You …
- Another 50 basis points cut but Dow still in red
- Stocks recover but too early to heave a sight of relief?
- Surprise rate cut of 0.75 percent – glad it’s so Bloody
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February 15th, 2008 by financetwitter
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