One of the best NHL players to play the game will not be rejoining his team next year. That person is no other than Chris Chelios, with the Detroit Red Wings. It sure would have been a sweet end to his career had Detroit won the Cup. But anyways, he’s 47 years old, he should have really retired a few years ago. He really doesn’t play much, he acts the role as a coach for the young players. He’s been with the Red Wings since 1999, he’s won a few Cup’s, he should walk away now. I say that because he still wants to play. He’s going to get himself hurt if he stays any longer, he had a great career, and he will end up in the NHL Hall of Fame. Someone close to him needs to really step in and tell him it’s over playing, but maybe try coaching a team. He would make a great coach, that’s where he needs to be at this point.

I have been hearing that it’s going to get much worst before it’s going to get better. I’m sure you’ve all heard it as well. And for the most part I hear it coming out of President Obamas mouth. I think he knows more than what he’s telling the American people, as well as the rest of the world. And I think a lot of people are starting to feel the same way.

As I was searching around the net today I came across a interview with Peter Schiff, president of Euro Pacific Capital. He thinks if the U.S. government passes this new stimulus bill we will be in an “inflationary depression worse than anything any of us have ever seen.” He also thinks that if the U.S. government should stop borrowing and let the market take it’s course so we can come up with a new platform. Right now our economy is built on borrowing and spending. He thinks we need to build on saves and production, and I can’t agree with him more. We need to stop living the ways we are now and start making hard changes to save our economy. Because if we don’t, and the bond bubble pops there will be no more government borrowing, then what would we do? If the collapse of the dollar happens the U.S government will go broke, and then the rest of world will follow. It’s time to start saving, and build on a real economy, not a fake one.

One of my favorite companies to blog about is Yahoo Inc. I think I think to blog about Yahoo is because there’s always so much drama with them. If it’s not their former CEO and co-founder Jerry Yang in the news it’s about something else. It seems that Yahoo can’t stay out of the news. It’s been well over a year and it seems where still talking about Yahoo selling to Microsoft. I really don’t think this deal is ever going to happen. Microsoft really did try to get Yahoo for a steal. And if Yang didn’t chase them away like he did Yahoo would be gone right now. Microsoft would have taken over Yahoo’s search technology and companies other services with their own. Anyway, Yahoo lost a lot of money in the 4th quarter, but they did much better than analysts had expected, which is a good sign. Anytime a company that survives a recession like we’re in right now will become a stronger business down the road. And I’m sure Yahoo’s new CEO Carol Bartz will make the changes to make Yahoo stronger. She has said she’s not going to sell the company to Microsoft, but would consider selling their search business to them. But I get the feeling that she might not even want to do that. Hopefully she will keep the business together and become what they once where.

Today the Federal Reserve cut its target for a key interest rate to the lowest level on record, .25 percent. The plan is to get banks lending and fight off the recession. I read that many analysts had expected the Fed to drop the rate to .5 percent. So by getting a zero to .25 percent rate this should be their gift this year. We’ve also have never seen a rate this low, the lowest ever was 1 percent. So I sure hope Federal Reserve Chairman Ben Bernanke knows what he’s doing, because a rate this low good cause other problems done the road.

Also, the U.S. Markets took in the good news with a spike upward in stocks. As I enjoyed the good news as well, seeing my stocks go up again. I just hope no other bad news come out over the next few day to drag the Markets back down. But I always think the worst will happen and fear the Markets will nose dive again, just how I am.

I wonder what this day will be like on Wall Street. Right after yesterday’s report that the U.S economy is in a recession the Dow dropped to one of it’s worst days. The U.S markets are heading for a higher open today, but will it last. I don’t think so; there are just too many scared investors out there. Once one bad report comes out investors start dumping their stocks. And most of the time the bad report has nothing to do what they’re investing in, they’re just scared. And this is one of the biggest reasons why we have all these problems. We all have ourselves to blame for the economy going into a recession. When we stop spending our money business around us start to collapse. And most of those businesses are small businesses. Most small businesses can’t stay a float after 6 months of low sales. And since small businesses make up most of all U.S jobs our unemployment raises because of layoffs. We need to come together as a nation and start supporting each other. And the way you can support your local businesses is just simply purchase their products and services. If we don’t help each other things are only going to get much worst before better.

So far the out look for Wall Street looks like its going to have a lower open today. And around the world the Asian markets closed pretty much flat today. The European markets are down right now and look to finish flat as well. With the out come of black Friday I think and hope the U.S market will show good gains today. I heard that there was a 2 to 3 percent increase in sales over last year. But with the deep discounts it will cut into retailer’s profits. If retailers have a great Cyber Monday it could move a lot of them into the black for the year. With all this holiday shopping it could very well stop the recession from becoming official. Although the chance of that happening are slim. Everyone already knows where in a recession, heck we’ve been a recession for the last 3 months. The thing is no one wants to admit it officially. Lets hope for a good day on Wall Street and days to come.

I was just reading that Wall Street had its biggest five-day rally in more than 75 years. Some of the big reason’s for the rally was because President-elect Barack Obama named his economic team and of course the big loan to Citigroup. And let’s not forget that the Federal Reserve finally decided to buy those bad mortgage-backed securities. I don’t know if those where some of the best choices, but it worked for now. If buying the bad mortgage-backed securities don’t work it’s going to cost us an arm and a leg, so lets hope this idea works. I also hope next week brings similar results, because we sure need it. Also next week will have a few reports coming out, like the employment report from the Labor Department. A report like the employment report could really swing the markets, so lets hope this report comes out good.

Today President-elect Barack Obama released his team of top economic advisers. And once again it’s more of former President Bill Clinton’s people. Is this the real change Obama is bringing to the White House? Anyway, he also stated that he would remain on course with what the Bush administration had started with rescuing the financial markets. He also want’s to have a new stimulus package passed right away to help create jobs. Some people think this will cost another $700 billion over the next couple of years. If you ask me it looks like more money is being tossed around again. And where in the world are we going to come up with all this money for another stimulus package. Before we know it our money is going to be worthless. I sure hope he knows what he’s doing, because if not things are going to get much worst.

There seems to be more begging going again with Detroit’s Big Three automakers today. The CEO’s of the three, General Motors Corp., Ford Motor Co. and Chrysler LLC are still crying that they could be forced to layoff thousands of jobs if they don’t get the help they need. As I said before, it’s all about there bonuses. You’ll see what I mean when the Congressional Democrats find a way to give it to them. The Republicans are opposing on giving them the money. A lot of people in Congress and the American people think they shouldn’t get the money. And I feel the same way, let them go under like the rest of America’s small businesses. Just because you’re a huge company and have been around forever doesn’t mean you get help around every turn. We now know that handed out money to anyone that asks for it doesn’t work. So we need to cut our loses and stop handing out the cash. Anyway, when they go under someone will be right there to pick them up and start fresh, and that’s what scares these big CEO’s. They only care about their jobs, no one else’s.

Today on Wall Street turned out to be quite a ride for all of us. At one point the Dow Jones industrial at a low of 7,965.42. Then out of nowhere it went right to the top. When it was all set and done, the Dow Jones industrial ended up over 550 points. This type of day just shows how bad things really are. Although the stocks ended up what will tomorrow bring? And I say this because you just never know how the U.S. or world markets are going to respond from day to day. And this makes a lot of people feel unsure on what tomorrow will bring. Me personally I’m a little sick and tired of the rollercoaster ride the Dow Jones takes me on every day. I also feel that the Dow Jones industrial as finally reached the bottom. And I say this because of what had happened today. There was so many deals lying around today investors just had to grab them. But then again who really knows anymore. Lets hope for another big gain tomorrow, and get this economy moving.