"One of my big pet peeves right now is any mention by anyone that the reason the market is dropping is because of fears of war and fears of terrorism."
ajtj99,
I'm confused about your point. Are you saying that the stock market is not being affected by the concern and uncertainty of military conflict?
There are certainly plenty of reasons why the equities markets are tanking: no profits, bad earnings, bubble-burst, excessive credit expansion, the Fed's insatiable urge to dump liquidity at every whim, job layoffs, global economic contraction, oil prices, dollar sinking, and on and on... BUT, I think you have to add to all of these things the fact that market participants just plain hate not knowing tomorrow or the next day or next week or whenever, that a nuclear bomb might wreck their whole day. There's plenty of fear and uncertainty about the possibility of military conflict right now. Those are not elements of enthusiasm for buying equities. This period of not knowing what might happen is probably worse for the markets than anything that really will happen.
All in my opinion. |
