NO MORE Mortgage looks at the Stock Market

NO MORE Mortgage thinks that there is nothing worse than fear in the markets.

In the markets it is often said that stocks can climb a “wall of worry” but when the mentality starts to turn, and people begin to fear that the rally is over-extended, and when there is really no fundamental change in the economy on which to justify a 40% rally, then one or two triggers can send the market into a tailspin.

NO MORE Mortgage wants to point out a few realities  a) the TARP money (bailout) has benefitted banks, not regular business.  b)  the “shovel ready projects” are just that, PROJECTS.  They are not JOBS.  They are not new CAREERS.  They are only temporary.  c)  Cash for Clunkers is the same thing—temporary.  What will happen to car sales in September once the program expires?  d)  businesses keep on laying people off, and home values still keep on going down.  This is what popped the bubble in the first place.  The root causes of the recent market break are still not cured.

Here is the report from  NEW YORK (MarketWatch) — U.S. stocks dropped at Wednesday’s start after a steep drop in Chinese equities fanned worries that stock valuations had surpassed reasonable expectations of a potential global economic recovery.

NO MORE Mortgage

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