JUNE 12,
2006 --
LPR heard a radio reporter say that the market fell, last Thursday,
because oil prices dropped and with the drop went energy stocks.
Previously, LPR thought a Dow Jones drop was attributed to rising oil prices.
Also, LPR reads that the current bear market (a 3% drop in one week is not the
performance of bulls) is attributed to
worry that the Fed will continue to raise interest rates and that energy costs
will remain high.
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This seems
to suggest that the market is governed by anxiety and depression.
LPR herewith restates a suggestion offered some time ago: the
SEC should
require the worrywarts of Wall Street to take Zoloft, or other suitable anti-anxiety
and anti-depression medication.
Lastly, unless the Fed tells us just what it does, besides sending out the chairman,
alternatively, to alarm or assuage the experts, and meeting to act on
interest rates from time to time, LPR urges the president to disband this misbegotten
board of misguided meddlers who confound the common good.
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