Here we go again. The markets finally regaining a little of it's sanity and the Fed panics and comes out to shovel some more false hopes at the American people.Moves up are nice, nice for everyone. The problem is these moves up are resting on the shoulders of our Government, and if it should falter it will all come down with a huge crash. From the beginning of this crisis the economy has been propped up with hopes, promises and borrowed money.
Imagine if you were to live off of your credit cards during this contraction enjoying the same life style as you did before. Spending money you didn't have and creating a huge debt while all the time telling yourself you'll pay it all off when the economy gets better. What will happen? When the situation improves all of your earnings and time will be spent frantically trying to pay off all the debt you incurred when you should have been cutting costs and living frugally. It could possibly take the rest of your life!
We have to stop burning through money. All of this debt is not good!On a lighter note, wasn't it magical the way the S&P hit 875 and turned. Perfect!
