My Blog, Your Money

The funny thing about economic recessions (as well as expansions) is that you don’t know if you’re in one until after the fact.  And it looks like what everyone has been fearing was finally confirmed on Monday: the U.S. is in a recession and has been since December of last year.
This probably comes as no […]

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This was a historic week as the one of the most anticipated political campaigns finally came to a close and a new American president was elected.  I will try to stay neutral on this blog, but I would like to congratulate Barack Obama on his win.  (Joe Biden too.)
Both Obama and John McCain had their […]

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Earlier this month, the national debt hit $10 trillion.  This figure is so great that the National Debt Clock actually ran out of digits and a temporary fix had to be implemented.  Here’s the whole story.

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With a European rally and good news coming from the US Treasury, today was another interesting day on Wall Street with some terming it Manic Monday (not to be confused with the delightful Bangles ditty).  Indeed, a lot of records were set, but this time, they were the good kind.
After the worst week in […]

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Keeping up with the trend of the past month or so, it was another terrible week for the market (stock not grocery of course).
Here’s a few highlights or rather lowlights of this past week:
·        With a loss of 1,871 points (-18.13%), it was by far the worst week of the year for the Dow Jones […]

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So the market took a stunning turn today when the House of Representatives shocked Wall Street by not passing the $700 billion bailout.  The result?  A selloff the likes of which I’ve never seen.  The Dow plunged 777.68 points.  The S&P 500 responded with a decline of 107 points (~9%).  The Nasdaq followed by dropping […]

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It’s going to be an interesting day tomorrow: House to vote on $700 billion market bailout.
Even though, I am a free-market believer at heart, I think this bailout will definitely help the economy in the short term.  Is there a better alternative?  There pretty much always is, but in a situation such as this, we […]

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What a week!  Here’s a recap:
Monday
-         In the early hours of the morning, highly regarded investment bank Lehman Brothers announced it would file for Chapter 11 Bankruptcy, by far the largest in history.
-         Merrill Lynch is bought by Bank of America for $50 billion creating an industry titan rivaling Citigroup.
-         The Dow Jones Industrial Index […]

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Big news today: Feds take control of Fannie Mae, Freddie Mac.
On the heels of a tumultuous week on Wall Street (Dow Jones lost over 300 points, Nasdaq down 6.5%), this should restore some confidence in the financial markets.

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