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Originally posted by titian
Hate to burst the conspiratorial bubbles here; but today's fall was due to the first drop in service sector jobs in five years.
Furthermore, St Udio brings up a very good point that should be considered.
Irrational exuberance has a cost. I sincerely hope noone bought GOOG near its alltime high.
Originally posted by Freedom ERP
Stock Markets have to be considered over the longer term and not just months or even the odd year.
Typically in 20 year cycles which I feel is a fair time frame, global stock markets have continued to rise and which will continue to rise.
In this current market adjustment, and I think it is fair to call these downturns, market adjustments, those who deal and trade in shares which are used as the cornerstone of a great many of the investments we have, are taking profits.
It does not help that many of us and the businesses we depend on have higher levels of debt to service. Some parts of the marketplace have made it too easy in my opinion to get credit, and now we have having to pay the piper so to speak for the money we have used.
And just think about this....interest rates are very low, and we have had a sustained period of lower interest rates coupled with an expanding economy across the world.
The bad news of being the world's largest economy is the impact any downturn has around the world and economics is about cycles and we are in a down cycle for the time being.
Drops in interest rates around the world should help us service the debt we have more easy, it just that is takes time to ripple down from the marketplaces to our pockets, and just how long are we prepared to wait before we start pestering our Governments to change something else as things are not happening fast enough.