InvestYoung

No More Jobs!

I wonder how the Dow Jones will end today. With the Dow Jones ending under 8,000 points yesterday it’s anyone’s guess how it will end today. Well, I would like to take a shoot at saying where it will end up for the day. I think it will end up around 300 points. The day will start off slow, because of the weak unemployment benefits report that just came out. More and more people are losing their jobs at a rapid rate. And as we get closer to the Holiday season we’ll have a go understanding how people will spend. That’s the problem, no one is buying things, and you really can’t blame them. Anyway, around 1PM there will be so many bargains laying around investors will start buying. And when the buying starts everything starts to go up. So if you’re going to buy stocks today make sure you buy around 11AM. This is the way I see the day going. And you know what, I could be dead wrong and the stocks could tank all day. As always, do your own research on any stock your going to buy. I will say, stay away from the automakers stocks, there all ready to go under.

Update: Looks like I was dead wrong. And it looks to be just has bad tomorrow.

Cutting Jobs!

I just read that Citigroup Inc. is cutting about 53,000 jobs in the next coming months. I really don’t have much to say about people losing their jobs besides it sucks. And it’s never good thing for the economy or the people losing their job. Citigroup is having huge problems because of their huge losses to the tone of $2.8 billion in just the third quarter. The problem with companies like Citigroup they just grow to big to fast. They then start taking on shady deals and have wild spending habits. No one ever knows who’s in charge and things start to get out of control. Getting the news that your job is being eliminated is never a good thing, but I say just keep your head up and move on. Most companies today only really care about the bottom line and really don’t care about their employees. So do yourself a favor and don’t bother looking back.

Oil Prices Down!

With the huge drop in oil prices over the last four months is somewhat a sign of relief. Today the price of a barrel of light sweet crude is down over 60 percent to just under $59. Although this is great, the only reason for the drop is because of the recession we’re in. The demand for gasoline and other crude products as also caused the drop. And that’s because there are no jobs and no one is spending what money they have. The only thing I wonder is will the price of oil skyrocket again once we pull through this recession. I truly feel it will, and then we’ll be right back we’re we started again. We need to take this time to create jobs by drilling for our own oil and stop depending on foreign oil. We need to get back to the times where we did everything on our own. If we don’t get back to producing our own crap we’ll never really get back on track.

China’s Stimulus Package!

Today China released their huge $586 billion stimulus package. This will differently help ease some pressure on the global economy. The only thing is we need more countries to get inline and start releasing their stimulus packages. With the United States and now China’s stimulus packages this will force others to follow. If others don’t follow, it will be a great waist of money for the United States and China. This financially problem we’re all in is a global problem. So I sure hope things start happening with other countries very soon, before we fall deeper in the hole.