From the Wall Street Journal:
Stocks limped to their worst August since 2001, battered by a wave of discouraging data that cast doubt on the faltering economic recovery.
Investors now enter September, a month that has been historically challenging for the stock market, against a backdrop of broad uncertainty, including slow growth and deflation fears.
The Dow Jones Industrial Average battled to a stalemate on Tuesday, rising 4.99 points, or 0.05%, to finish at 10014.72. The blue-chip index’s 4.3% drop for the month was the worst since a dismal May, and the measure’s first down August in five years. The Dow had rallied 7.1% in July…
I’m not so sure that September will prove a bad month – seems to me that the markets are being either manipulated, or controlled by coked-up monkeys. It should be down thousands of points from where it is as the economy is clearly in the dumpster – but, it still hangs on around the 10,000 mark. It will eventually fall, but I suspect that the Powers That Be will try their best to keep it up until November 3rrd.
The curious thing is that I don’t see how we get out of this while Obama is in office. Supposing the GOP wins big in November, the fact remains that the only thing the GOP can do for sure is halt any further Obama initiatives…but with Obama holding the veto, we can’t roll back any of the disastrous policies (Obama-made or inherited from decades past) which are preventing us from recovering. It could be a very long two years.
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