Stock markets and depressions

The stock markets took another big hit yesterday with about 4% drops. The bailouts aren’t working nor are the stimulus packages. We have a new president but he is doing the same things as our old president.

Dow	6,763.29	-299.64 (-4.24%)
S&P 500	700.82	-34.27 (-4.66%)
Nasdaq	1,322.85	-54.99 (-3.99%)

At this point, the markets will probably bounce tomorrow because it is temporarily oversold. That won’t change the direction of the overall trend of the market which is down. Every report coming out only confirms something bad or worse than expected.

The stock futures indicate a decent open for tomorrow. Where it will close at the end of the day is any one’s guess.

Dow	+84.00	+1.24%	6,874.00
NASDAQ	+8.25	+0.76%	1,094.25
S&P	+8.80	+1.25%	714.30

I think more people are starting to realize we are already in the midst of a depression. You can check out my previous post about tent cities popping up in all the major cities. Check out this ABC video about California’s State of Depression and you will get a feel for how it is where I live right now.