The news from Wall Street is surely depressing as is the news from all other sectors of life. Reality has emerged to claim its victims and there's nothig anyone can do about it. America wanted a buying binge and easy credit but America never wants to repay loans and credit cards opting for the easy way every time. Between credit counseling and bancruptcy we have created a pleathora of avenues for excuses forgetting that with every excuse someone looses and when someone looses it costs everyone. Business writes off losses on their taxes but hikes prices to compensate. We have pumped so much money into our economy its a wonder a week of groceries doesn't cost 4 figures. The daily headlines should read DITTO as every day another doom & gloom report arises exemplifying our plight. We are surely in a recession or maybe a depression but no matter the term,it is all bad till we can repair it later, you think???
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Ray Fisher of NM @ Oct 23, 2008 11:24:19 AM
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