I feel we are on the verge of something historical. I have an eerie feeling that we are on the verge of a major event that will be referenced and and discussed for as long as people continue to probe this planet.
Either the whole market will be reduced to nothing but a ghostly penny stock exchange after all remaining investors get fed up and pull everything out, or we will begin the greatest sustained rally ever seen.
The latter is not probable in the near future(Market not done tanking), but the dooms day scenario is a real possibility considering the fear mongering, and constant negative exposure supplied by mass media.
Just like we are conditioned to buy a certain product, or listen to a certain band, we have been conditioned to sell stock in good companies, lay employees off, not buy cars we can afford, and in some situations unnecessarily cut bonuses that would otherwise help to stimulate the economy. Recession related activities such as those mentioned are becoming the cool thing to do. America's paranoia has the potential to lead to her ultimate demise.
This market is so paranoid that when our "Leader" speaks it equates to an instant 100pt drop. Its getting to the point where traders look up the scheduled times of a Geithner testimony and trade around that. We see dumping minutes before the guy even says anything. We hang on every word and deal millions of shares based on essentially nothing. When the word "nationalization" is mentioned out of context thousands are sitting at their desks with itchy fingers on the mouse ready to click sell without even comprehending the complexity of the discussion. Why would somebody want to invest their hard earned cash in this casino? It deeply saddens me that my generation (I'm 26) will be paying for mistakes by our greedy predecessors. Greed which was instilled from birth by families with entitlement complexes.
My friends cant buy houses, and the married ones are afraid to bring children into this mess. There is no escaping the severity of it all, maybe the best thing to do is let the whole thing come crashing down, this way at least we know things couldn't get much worse(as long as we dont start killing each other)
The government, it seems, will continue to let this happen. Its Obama's job to stop pointing fingers and take responsibility for what he inherited, and restore confidence in the American people. I almost think a lie here and there would do more good than harm. Tell us it will all be ok, and sell it good enough to break through our thick skulls so I can stop checking my stocks for a second and enjoy the only thing I'm looking forward to right now, Baseball season which will consist of buying $400 tickets at Yankee stadium with money I don't have, watching overpaid selfish athletes compete at the highest level, only to boo them unmercifully when they fail.
Hopefully this panic that we are in is only cyclic. Once hope runs out, we have nothing left.