The DOW closed up 239 and the S&P closed up 29.
My sense is that this is just a little blip. What is occurring that would make one feel that the economy is shifting.
The market recovers months before the economy bottoms out and one might assume that there would be an end in sight with that scenario.
As usual it is next to impossible to predict the market but I have no faith in this little three day rally.
Reuters: 45 percent of world's wealth destroyed: Blackstone CEO
Rating companies have been the focus of intense criticism for their role in granting top "AAA" ratings for complex bonds that later plummeted in value, resulting in subsequent rating cuts, in many cases to junk status.
He said investors also may find value in debt products, including "senior layers of certain securitizations," where investors can see 15 percent to 20 percent returns, he said.
2 comments:
I am a student of this stuff but I do know that the billionaires make money if the market fails or if it succeeds. They have both angles very well covered. Then you hear that Bloomberg just raked in several billion while the rest of us now have to work another 10 years.
10 yrs. only? Lucky u. I'm trying to visualize retirement and can't get it to focus ever. Health-care costs alone are ruining me presently. Then almost unbelievably the State of NJ has decided to raise everyone's taxes, if u own your own home! I work hard all my life play by their rules and I get it in the butt, while some slep who borrows too much for whatever reason get's a break? I get a tax raise and he/she gets a bail-out? Does this sound right? Then the banks...oh why bother it all makes no sense anymore.
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