In the headlines today, “The Dow Closes Below 10,000.” I love this headline. There are a lot of stock market interpretations, but it remains a fact that the Dow Jones Industrial Average comprises 30 stocks. Maybe they’re indicators, maybe not.
The fact of the matter is that while many folks own stock, most in 401ks, the drop is a drop in the bucket. It’s not an economic indicator and what is important is that the nation remains in a dreadful recession. The “recovery” is primarily “statistical,” especially when real unemployment approaches 20 percent or so.
Now the Dow’s drop probably means little to the big guys who generally make it on both sides.
But why the hell am I talking about the stock market instead of my friend who’s down to his last few bucks and can’t get a gig anywhere. Or his friend’s who’s trying to make buck playing the banjo in the street because there’s no work out there for a stone mason.
And then there’s BP. Who knows, maybe my old buddies can find jobs cleaning the coast line. Of that, I’ve not heard word one from the media regarding what this is going to cost the American public. Sure, BP’s responsible for the cleanup, or so the Administration has said or mandated, but what’s the impact on the price gasoline, fuel oil and other derivatives. Over the longer term, should BP stay in business, it’ll do just fine.
This nation has never taken a true stand against big oil, as I wrote earlier and I doubt it ever will, or at least not in what’s left of my life.
Hell, we’ve never taken a stand against handguns. We haven’t even gotten “Don’t Ask, Don’t Tell” out of the way…or racism.
A fine mess we’re in Olly.
Refugee from Reason 