Biggest Five Day Rally!

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.

Economy In Crisis!

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.

Begging Again!

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.

Massive Rebound!

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.