Tuesday, October 14, 2008

STOCKS SURGE!!!

I find all this hyperbole irritating. So what? Stocks surge on Monday because governments announce a concerted action plan. Well, what if we get wind next week that the plan may not work rapidly enough, or another industry giant releases a horrible earnings report, or on and on and on.

Let's just behave prudently, and stop pretending that the vicissitudes of the DOW or the S&P can tell us much about the underlying health of our economy.

http://www.spiegel.de/international/europe/0,1518,583739,00.html

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