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February 28, 2007
Impartial Advice
Investment planners say that investors shouldn't panic and sell just because the stock market took a beating yesterday.
Well...what else are they going to say? "Financial planners recommend investors sell everything immediately and hide under some blankets" would be a fantastic headline to see, but I'm not counting on it.
Let's go to the Simpsons Quotematic:
Kent Brockman: Hordes of panicky people seem to be evacuating the town for some unknown reason. Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?
Professor: Mmm, yes I would, Kent.
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WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke, discussing long-term fiscal challenges a day after a huge stock sell-off on Wall Street, told Congress Wednesday that government leaders must undertake "early and meaningful" action to address federal budget problems.
"Dealing with the resulting fiscal strains will pose difficult choices for the Congress, the administration and the American people," Bernanke said. "However, if early and meaningful action is not taken, the U.S. economy could be seriously weakened with future generations bearing much of the cost."
Posted by: The Rev. | February 28, 2007 11:26 AM
11400 on the DJI. 1320 on the S&p. 2200 on the NAZ. Can't panic the little, mutual fund guys yet, that will come in due time. Gotta get the big boys out first. (Note: The sub-prime mortgage thing could get ugly and these support levels might come down a bit.)
Posted by: Tom C., Stamford,Ct. | March 5, 2007 07:07 PM
Sir, I didn't understand a word you just said, but I'll defend to the death your right to say it.
Posted by: michael | March 5, 2007 08:01 PM
