Apparently Bernanke and Paulson failed to give markets much reason for optimism, in what turns out to be a dreary first trading day of December. Dow -7.71% to 8,148.37. S&P -8.93% to 816.20. Nasdaq -8.95% to 1,398.07.
Rational investors cannot gain confidence when every day they get news of further distortions to the market economy, with additional diversion of massive resources from the productive sectors to the mismanaged and bloated financial sector.
These comments by Paulson and Bernenke seem to be by design. All they are doing is signaling to their buddies in the financial arena, with their billions of $$ and our tax money, to start "shorting" the stock. It never seems to fail that they start this after a good run up on the market, just to bring it back down.
If they feel they need to open their mouths, choose the words carefully and do it after the markets close.
My thoughts exactly! It seems every time Paulson or Bernanke speak, with the exception of maybe 1 or 2 times, the markets take a dive. You could have gone short just before they spoke each time and made a killing!
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If they feel they need to open their mouths, choose the words carefully and do it after the markets close.