Show Me The Money/Baby Update

Thursday, October 9, 2008 - Wall Street dropped for the 7th straight day. This caused so much panic and chaos that even gold, that in the past was considered 'safe', fell as traders demanded money. Ironically investors who worried that the U.S. market meltdown would render their investments worthless staged the stunning sell-off exactly a year after the market hit 14,165 - an all time high.

The Federal Reserve, some of the biggest banks in Europe, Canada, South Korea and Taiwan all made a coordinated cut in interest rates yesterday. Even still, some of America's best-known brands still took a beatdown:


*Shares in General Motors plunged more than 30% to just below $5. It now trades at its lowest since 1950


*Shares in Ford plunged


*Share in Prudential Financial (the nation's second-largest insurer tumbled $10.02 (23%) to $33.27, their biggest drop since becoming
publicly traded in 2001

*Oil companies: Exxon-Mobil, Chevron Corp., Conoco-Phillips - all saw the price of their shares decline as oil prices fell below $85 for the
first time in almost 12 months

Wall Street appeared to get some traction from a government report that applications for unemployment benefits dropped last week from a7-year high! On a positive note, some corporate earnings from firms like IBM might turn out to be better than expected.

But overall, right now investors want out of the market - and fast while screaming "show me the money!"

If the market crashed today or tomorrow, what do you think would be a sure-fire way to get it back up again?





UPDATE: Dee Dee's son is one month today. I'm happy to report that he's past the 3 lb. mark (3 lbs. 2 oz.) and expected home next month. He's doing well and opening eyes. He recognizes his parents' voice and from what his mother says, taking man-sized dumps. Yeah, he'll be home soon! LOL