Under 7000
Under 7000
In the shadow of another dark historical marker, can there be light somewhere? When the Dow fell below the 7000 mark for the first time in twelve years, things seem to getting darker. My perspective is the glass half full with the realization that any thing could happen. As we continue to endure one piece of bad news after another I have hope. When your life approach is not focused on the amount of money in the bank you do not get pulled into the quick sand of current events.
Remembering back to 1997 when the Dow Jones broke 7000 for the first time, a coworker at the time was all gitty when he explained the news to me. This guy had extensive knowledge of the stock market. He was a member of a stock trading club that was started at this company in the 1980’s. He was the only person that I have ever known who could tackle any stock market question thrown at him. In 1997 the popularity of the internet was picking up speed as well as Tech stocks (Dot Com boom). In addition, a lot of baby boomers were retiring early because there retirement funds was producing big bucks. Then in 1999 the Dot Com boom busted while the stock market recovered with a decent pace. Following those events was a little hiccup in early 2000’s but it still floated around 10,000.
As a result of reading a few of the stock experts and some of them believed that we were living with an inflated stock market. Understanding where they were coming from I didn’t react to their point of view but maybe they were right. Now if we have seen the bursting of another bubble, then to me this also means that we have had a great correction in the way of our stock market. As a country the last time we saw the jobless rate like today’s and other financial specifics was the early 1980’s. We recovered from that one and it is my belief that we will pull out of this one. I believe in this Country and its people, and God’s hand is on us. The Entrepreneur of days past is what has helped strengthen us financially. The Entrepreneur of the future days will produce the revenue in radical new ways and that is what will launch us out of the current dark cloud.
