Well, that’s what some financial writers would have you believe—articles about the year-ending triple-digit losses in the Dow, the somber finale to a year full of mortgage debacles and credit trouble. Add to that the recent drama over a slow retail holiday season (don’t hear much about that any more huh?) and you’ve got a recipe for the end of the WORLD! Oh the humanity!
People! The Dow ended up almost 7% for the year- right around the average since its inception. Plus, the market’s currently on a little downturn—something that happens often—that will correct itself and return to more respectable numbers shortly.
I haven’t figured it out yet, but people evidently want the economy to tank. Why? Perhaps because their so anti-Bush that they want everything to do to hell in a handbasket under his watch and can’t comprehend why the economy has been in such good shape over his watch (low unemployment, high productivity, big gains in stocks since 2002). I just hope people have the foresight to take stories like the above one with a grain of salt—it’s not the end of the world, just the end of a year.