Posted By RichC on January 24, 2014
Investors and Wall Street traders are growing nervous that 2013 gains were too much, too fast as selling dominated the last two trading days. The Dow Jones Industrial Average is having its worst day since April 15th of last year and looks like it will close at the low of the day. (DJIA at 15,935 down 260 points at 3:30PM)
Amidst the encouraging news that the economy is improving, most recognize that our house of cards is pretty fragile and built on the Fed flooding our economy with money and low interest rates. We really live in two different worlds: 1) Credit worthy borrowers using cheap money to invest in real estate and equities and 2) the rest of America trying to hang onto their jobs, pay off debt and living with stagnate or declining paychecks. If we are really in a recovery, where are the jobs?