Posted tagged ‘Dow’

In God we trust; all others must pay cash!

November 10, 2008

This morning, I read this on my orkut homepage in Today’s Fortune section. I thought it was a great line and especially relevant in these difficult financial times. With the Dow losing nearly 1000 points in the space of 2 days (Nov 5, 6), and the ongoing slowly thawing credit crunch I can bet that, all banks/financial institutions on Wall Street right now are going by this maxim. With the US economy shrinking in the third quarter, and a potential global recession (the technical definition of a recession here in the US notwithstanding) practically upon us this seems to be very sound advice to all of us on Main Street too.