Comments on: Jan 22: Hold Your Breath http://pantsinacan.com/2008/01/22/jan-22-hold-your-breath/ A Personal Finance Blog with a Silly Name Tue, 07 Feb 2012 19:59:08 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Brainy Smurf http://pantsinacan.com/2008/01/22/jan-22-hold-your-breath/#comment-981 Brainy Smurf Wed, 23 Jan 2008 03:03:16 +0000 http://pantsinacan.com/2008/01/22/jan-22-hold-your-breath/#comment-981 The DJIA dropped 464.5 points, or 3.84% on the open this morning. With the 3/4 of a point rate drop, it quickly recovered. I like to think that had the Fed not taken that action, my shot in the dark guesses would have been pretty accurate. I'm still not sure why the Fed stepped in. If a "crash" where allowed to happen today, tomorrow would be the start to recovery. Now we're just putting off the inevitable even longer... The DJIA dropped 464.5 points, or 3.84% on the open this morning. With the 3/4 of a point rate drop, it quickly recovered. I like to think that had the Fed not taken that action, my shot in the dark guesses would have been pretty accurate.

I’m still not sure why the Fed stepped in. If a “crash” where allowed to happen today, tomorrow would be the start to recovery. Now we’re just putting off the inevitable even longer…

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