Tuesday, October 28, 2008

Help me figure this out

These were the first three headlines I saw when I signed on to check the news around 4 pm:

Consumer confidence at all-time low: Business research group says its index of confidence plunges to its lowest level in four decades.

Home prices see another record plunge: 10 major markets have seen home values fall 17.7% over the past 12 months, and experts expect the declines to continue.

Dow's 2nd best day ever

All of these headlines are from CNNMoney.com.

Scroll up for a moment and read those headlines again, and then allow me to recap:

Consumers have no confidence, and the value of their homes is plummeting. But the stock market is doing great!







12 comments:

Dr. Monkey Von Monkerstein said...

Wall Street exisist to make money off people's financial misery.

Barbara Bruederlin said...

Clearly nobody knows what's going on anymore.

Megan said...

Anticipated rate cut...

Although why that works for them I haven't quite figured out yet.

Flannery Alden said...

I think Dr. MVM nailed it.

Randal Graves said...

Oh, like you wouldn't be doing great if someone just gave you a cool 700 billion. Champagne baths and naked massages and caviar.

Eebie said...

I was going to make a serious comment like a true economist but then I thought, who can say anything more poignant than randal graves' comment? Brilliant!

Gifted Typist said...

Maybe it has something to do with the fact that the bailout money will be used to pay those Wall Street boyz their bonuses this year.

http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking

heals said...

its like when clark griswold got a subscription to the jam of the month club for his christmas bonus. everything is going to shit, but eddy thinks its a great gift. and then he kidnaps the boss, who happens to be bill murray's lesser known brother, and then the squirrel, the squirrel gets loose and then elaine from seinfeld knocks on the door right as the squirrel jumps on her, and then...well you see what i mean.

Mnmom said...

What Dr. Monkey said

dguzman said...

What Randal said. We're getting screwed while they're getting rich.

Okay -- something HAS to be going on with the word verification people--mine is DINOTEAM.

Dinoteam, unite!

Distributorcap said...

eurasia is alwasy at war with oceania

ask winston smith...

Johnny Yen said...

The same reason the stock market plummets when wages go up. Do-nothing speculating capitalists thrive on other peoples' misery.